Landlord-tenant issues concerning money

On Behalf of | Jun 21, 2021 | Real Estate |

Renting a home or apartment is fairly common in Mississippi and elsewhere. While this means that one does not own his or her dwelling, it does alleviate some burdens on an individual such as upkeep and repairs. Nonetheless, as a tenant, an individual may face issues when dealing with a landlord, especially when it comes to the terms concerning money owed and money returned.

Security deposit

In the state of Mississippi, there are regulations concerning security deposits with regards to a lease of an apartment or home. To begin, there are no state statutes that limit a security deposit, require it to earn interest after it is paid to the landlord, the need to store the payment in a separate bank account or a forbiddance on non-refundable fees, such as a pet fee.

When it comes to paying a security deposit back, a landlord has 45 days to return the payment to the tenant after possession has been delivered and it is demanded by the tenant. It should be noted that a landlord can withhold a security deposit. This amount could be used to address defaults in rent payment, to repair the damages on the premises caused by the tenant or for reasonable and necessary expenses that incurred as a result of a default. In such cases, a landlord is required to itemize damages and fees deducted.

If a landlord fails to return a security deposit, he or she may be subject to damages up to $200 in addition to the actual damages incurred.

Issues concerning rent

With regards to rent, there are no rent control laws in Mississippi, and rent does not need to be paid through a certain method of payment. When it comes to fees, a landlord can charge late fees when rent is late, and there is no grace period for these fees in the state. Finally, landlords are not required to provide tenants with notice when there has been an increase in rent from one lease to the next.

Navigating landlord-tenant issues can feel overwhelming, especially when a tenant feels as though they have little to no room to argue against what a landlord says or does. Nonetheless, a tenant has rights and options when it comes to protecting their rights and enforcing the terms of a lease.