Mississippi security deposit rules.
The Mississippi rules for residential security deposits in plain English: how much can be charged, how fast it comes back, whether interest is owed, and what catches operators out.
Last reviewed · Statute: Miss. Code Ann. § 89-8-21 · Not legal advice
How much can be charged
No statutory limit on the deposit amount.
When it has to come back
No later than 45 days after termination of the tenancy, delivery of possession and demand by the tenant, with an itemised written notice of amounts claimed.
Interest
No interest is required.
Where the money has to sit
No segregation requirement.
What catches operators out
- The 45-day clock does not start until the tenant demands the deposit after handing back possession.
- Retention without good faith exposes the landlord to statutory damages of up to $200 on top of actual damages.
What this looks like with Standby in Mississippi.
When a resident takes a Standby certificate there is no cash deposit to hold, so the cap, the return deadline and the interest rules above have nothing to attach to. You are covered up to the full deposit and draw on it when you need to.
When a resident pays cash instead, Standby handles that deposit under your lease and Mississippi law, so your team is not tracking return deadlines by hand.
This page summarises the most common single-family and multifamily residential rule in Mississippi. Furnished units, senior leases, mobile-home tenancies and short-term rentals can differ, and city ordinances may override the state default. Check the statute before relying on a figure for a specific lease.