Security Deposit Alternative in Mississippi
Mississippi’s reproduced deposit provision uses termination, possession delivery and demand as the three return triggers. Deductions must be reasonably necessary for the specified security purposes, itemized in writing; bad-faith retention may add up to $200 beyond actual damages. This provision does not approve Beagle’s recurring payment or establish that no other fee restrictions apply.
What Mississippi law says about security deposits
- Can you require it?
- Review the payment’s security function
- The AG’s reproduced section covers performance security, with an execution-security exclusion. A monthly label alone does not establish a fee exemption.
- Statutory cap
- No deposit maximum in the reproduced §89-8-21
- Return deadline
- 45 days after the tenancy ends, the resident moves out, and the resident asks for it
- The law
- Mississippi's security deposit law
- Mississippi Code 89-8-21
Source baseline: . See the official Mississippi source. Deposit rules change, and this is general information rather than legal advice. Confirm the current text with your own counsel before you change a lease.
Can you require it of every Mississippi resident?
Mississippi §89-8-21, reproduced in the official AG guide amended through 2018, governs payments whose primary function is securing rental-agreement performance. Subsection (1) excludes money securing execution of the agreement, including qualifying advance rent; it is not a blanket exemption for any recurring charge. Covered money is held for the resident, whose claim has creditor priority. Reasonably necessary rent, damage beyond ordinary wear, cleaning and default expenses require itemized written notice and the stated purpose conditions. The retained balance is due within 45 days after termination, possession delivery and resident demand. A current compiled-code check remains needed before implementation.
Rules differ by state and by city, and subsidized housing is its own question. This is general information for property managers, not legal advice. Get a written opinion before you make the fee a condition of tenancy anywhere.
How the program works in Mississippi
Review Beagle's deposit alternative alongside the agreement for your property. Protection, resident responsibilities and claim handling depend on the program terms and applicable state and local requirements.
Explain the options at signing
A qualifying fee arrangement lets a resident pay a monthly charge instead of providing the full cash deposit. Explain the available deposit choice, refundability and continuing resident obligations at signing. The payment’s legal treatment depends on the arrangement and jurisdiction.
Match protection to the lease
Compare the selected program’s covered losses, limit, exclusions and claim requirements with the deposit your lease would require. Payment depends on an eligible claim and the program terms; a fee does not itself guarantee the same recovery as cash security.
Document move-out and give notice
A deposit alternative changes how an eligible claim is paid. Keep move-in and move-out evidence, provide the notices required for the property's jurisdiction, and follow the program's claim process. Claim review and resident disputes can still require your team's involvement.
Agree the program economics
Confirm the resident’s charge and any property administration payment in your quote and agreement. Include permitted fees in the disclosures required for the property; earnings depend on the agreed economics and applicable law.
Security deposit rules in other states
- AlabamaReview the payment’s security function
- AlaskaReview nonrefundability and notice rules
- ArizonaReview security and fee rules
- CaliforniaReview the broad security definition
- ColoradoReview security function and fee pricing
- ConnecticutCheck upfront fees and total-rent disclosure
- DelawareOptional surety has its own rules
- FloridaOptional only
- GeorgiaReview cap scope and return duties
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- HawaiiCheck the fee rules first
- IdahoReview security purpose and custody
- IllinoisReview return rules and fee disclosures
- IndianaReview returnable security and the address
- IowaReview deposit custody and instructions
- KansasReview deposit caps and refund triggers
- KentuckyConfirm local adoption and required records
- LouisianaReview security function and statement timing
- MaineOptional licensed surety has separate notice
- MarylandOptional only
- MassachusettsConfirm authorizing rules
- MichiganReview the deposit procedure
- MinnesotaReview fee classification and disclosure
- MissouriReview the security definition
- MontanaCleaning and damage fees presumed security
- NebraskaReview function and housing-agency scope
- NevadaOptional only
- New HampshireCheck the fee rules first
- New JerseyReview trust, interest and special refunds
- New MexicoReview reasonable security and mailing
- New YorkReview fee restrictions
- North CarolinaReview the bond structure
- North DakotaReview security cap and 30-day accounting
- OhioReview the security definition
- OklahomaReview escrow and the demand trigger
- OregonCheck the fee rules first
- PennsylvaniaReview escrow and fee classification
- Rhode IslandReview security function and furniture limit
- South CarolinaReview deposit standards and agreement
- South DakotaReview security function and both notices
- TexasOptional only
- UtahReview nonrefundable designation and notice
- VermontReview refundable definition and local law
- VirginiaOptional only
- WashingtonOptional only
- West VirginiaReview refundable security and contractor notice
- WisconsinReview security and deduction rules
- WyomingReview disclosures and separate clocks
Mississippi security deposit alternative FAQs
The inspected AG reproduction does not approve a mandatory recurring waiver. Confirm the current statute, whether the payment secures performance or execution, and the actual agreement before relying on the model. The published historical source is not a 2026 contract-compliance review.
See it on your Mississippi units
Run the selected program against your own unit count, or review its charges, onboarding and agreement terms with our team.