The residential lease agreement in Mississippi is a legally binding contract signed between a landlord and a tenant.
The landlord usually prepares this legal document to lease their property in exchange for money from the tenant. The landlord must first screen a potential tenant and then provide them with a lease agreement for signing before renting out their rental property. These parties should only sign the agreement in Mississippi once they understand.
Keep in mind that a tenant can choose to move into the leased property either on the first day of the lease term or on the day agreed upon in the rental contract. Also, Title 89, Chapter 7 (Landlord and Tenant) law should always be observed when preparing this contract.
Types of Mississippi Lease Agreement
A landlord and tenant can prepare and sign different lease agreements in Mississippi. The most commonly used types of the agreement in Mississippi state are as follows:
Association of realtors
An association of realtors residential lease agreement is a form that a licensed realtor completes in Mississippi. It is meant to identify the terms and conditions of a rental contract between a landlord and a tenant. This form usually includes details like the realtor showing off the property to the tenant, providing the rental application requirement, and even holding the discussion between the landlord and tenant. Once the tenant and landlord have agreed on the most suitable terms and conditions, the realtor will now provide a lease agreement for signing and receive a commission from the landlord.
Commercial lease agreement
A commercial lease agreement in Mississippi is a contract between a landlord and a tenant for a rental property meant for business purposes. This may include retail, an office, or even industrial activities. With this lease, the tenant and landlord can agree on the duration of the lease, the amount of rent, security deposit, lease renewal, rent late fees, and missed payment penalties. This type of lease agreement can be enforced in court if it observes Title 75, Chapter 2A: Mississippi Code 1972, signed by both parties.
Month-to-month lease agreement
This is a contract that has no end date. Therefore, it must be prepared according to the § 89-8-19 laws. It is an agreement that allows the landlord to receive rent every month from the tenant. Although it has no end date and can be updated if both parties agree to any new terms and conditions, this lease agreement can be terminated with a 30 days notice. Therefore, the landlord needs to check the tenant’s rental application to confirm if they can pay rent every month.
Rent-to-own lease agreement
A rent-to-own lease agreement in Mississippi is a contract prepared between a landlord and a tenant with the option of the tenant being able to purchase the property. Before the lease is signed, the landlord must confirm that the tenant has enough funds to purchase the rental unit. Also, this purchase option must be discussed before the lease is signed. It is only possible to buy the property during the viability of the lease. Once the lease is terminated per the due date in the agreement, the purchase option is no longer available.
Room rental (roommate) agreement
It s a contract prepared by roommates to determine the terms and conditions of living on a shared property in Mississippi. The original tenant remains in contract with the landlord, who is not impacted by this agreement. This type of agreement only works among roommates to guide household responsibilities and property ownership.
Standard lease agreement
It is a legally binding contract between a tenant and a landlord to allow a tenant to rent out the landlord’s premises for residential purposes. A rental application from the tenant is required for the tenant to be approved before signing this agreement. Title 89, Chapter 7 (Landlord and Tenant) laws must be observed when preparing a Mississippi standard agreement.
Sublease agreement
In Mississippi, a sublease agreement is a contract that allows a tenant to sublease the rental property for a while but within the rental period. Both tenants should agree to the signed agreement with the landlord. In addition, the sub-lessor (the tenant in contract with the landlord) and the sub-lessee (the new tenant) must agree to their terms and conditions in writing and sign the contract for this arrangement to be valid and acceptable to the landlord. This means that the tenant must inform the landlord of this arrangement before entering into a lease agreement with the sub-lessee. The landlord must also sign this agreement in Mississippi.
In most cases, this rental arrangement occurs in line with the Mississippi State Law (Mississippi Code Title 89 – Real and Personal Property), where the tenant (sub-lessor) wants to move to a new property but does not want to break the lease before it ends. The sub-lessee fulfils all the landlord’s requirements without the sub-lessor being on the property.
Mississippi Lease Agreement Disclosure
One necessary disclosure must be included in the contract for the lease agreement in Mississippi as required by the law:
Lead-based paint disclosure
The lead-based paint disclosure must be included in the lease agreement. It is a requirement of the federal law of Mississippi State for properties built before 1978. As a landlord, you will have to fill out a form and attach it to the agreement to inform your tenants of the lead-based paint and provide details of the hazards and risks of the paint.
What to Include in a Mississippi Lease Agreement?
For your lease agreement in Mississippi to be complete and enforceable, you must include all the required information. These details are essential, and both parties must confirm that they have been included in the agreement before signing the document.
In Mississippi, the contents that must be included in agreement include the following:
Names of the parties
This includes the landlord and tenant’s full and legal names. Also, you can include the property management company’s legal business name instead of the landlord’s name.
Property address
The rental property’s full address, the street address, must be included in the lease agreement. In addition, in Mississippi state, you must include the city, zip code, and the lot or unit number.
Term information
There are different agreements in Mississippi, and the term information depends on the type being prepared. It involves either a fixed-term lease or a flexible lease, where a fixed lease includes the date when the lease will end. In addition, it must specify the period when the lease agreement is valid.
Rental amount
The rental amount must be included in the agreement. This is meant to highlight the amount of rent the tenant must pay, the payment due date, and where the rent should be paid. Also, it is meant to specify the start of the lease so that both parties can quickly identify when the rent should be paid.
Late fee
For the late fee, this is the amount that the tenant will be charged if they fail to pay the rent by the agreed-upon due date.
Security deposit
The security deposit is the amount the tenant must pay in advance to claim the rental property and prevent the landlord from renting it out to another tenant. This amount can also be used for future repairs to any damages caused.
Initial payment
This is the amount, usually the first month’s rent and security deposit, which a tenant must pay before moving into the rental unit.
Occupants
Every occupant of the rental property must have their name on the agreement. This includes the tenant signing the lease, the tenant not signing the lease, and even minors. This is a requirement in Mississippi state to establish who lives in the rental unit.
The occupants must be listed in the lease for commercial purposes to determine the tenant’s permission to use the commercial space. Also, this will help to determine the price of the commercial space.
Utilities
This explains which utilities or services a tenant does not pay for when renting the property.
Parking
The parking information is all about whether the tenant is aware if they have a parking space alongside the rental unit or not. Ensure that you specify if the available parking spot is reserved and designated in the agreement.
Furnishings
With this section, the landlord can quickly inform the tenant about the furnishings they can install and appliances they are allowed to bring in the rental unit.
Notices
For this section in the lease agreementi, the mailing address of the tenant and the landlord must be provided. With such contact information, both parties can easily send notices.
Eviction
This information is essential and must be included in the agreement to inform the tenant of the eviction conditions in case of breach of contract like failure to pay rent.
Additional terms
Any additional terms to the document include details discussed and agreed upon by the landlord and tenant that might not be indicated in the provided sections.
Signature and date
The lease agreement should be signed and dated by all parties involved, the landlord and the tenant.
Landlord-Tenant Laws
There are landlord-tenant laws that must be observed when preparing a lease agreement in Mississippi. Some of these laws include the following:
Security deposit
There is no specific maximum amount or limit for the security deposit that the landlord can request. With no statute, landlords can set their security deposit amounts depending on their rental property. However, according to § 89-8-21, the landlord must return the security deposit to their tenant within 45 days after the lease has ended.
Rent due
In Mississippi, there are no laws regarding the rent due date. This means landlords have to agree on the rent due date with their tenants before signing the agreement. Also, as a landlord, you can include a grace period for paying rent in the lease agreement if you wish.
Maximum fees
The lease agreements should also have information about the late rent fees. Although no State law limits these fees, a landlord should be reasonable about the amount they impose on their tenants. Therefore, it should also be included in the agreement. Apart from the late rent fees, according to § 97-19-57, tenants’ Not-Sufficient Funds (NSF Checks) can lead to a service charge.
If, as a tenant, the landlord informs you that your rent check has bounced and you fail to pay up the amount, the landlord can demand a service charge of up to $40 alongside the rent owed.
Right to enter
In Mississippi State, no law requires the landlord to provide notice to the tenant before entering the rental property for maintenance and repair issues. The property belongs to the landlord, and they have a right to enter the property. However, it is advisable to provide advanced notice to maintain a proper relationship with the tenant.
Mississippi Lease Agreement
Key Takeaways
- A Mississippi standard residential lease agreement is a legal document that binds the landlord and tenant with an agreement to lease out the property in exchange for money in the form of rent.
- As the landlord or tenant, you can choose to prepare different types of Mississippi agreements depending on your renting situation.
- In the Mississippi lease agreement, you must include the lead-based paint disclosure required by Federal law.
- When preparing the contract, it is also essential to include all the required contents in your Mississippi agreement and observe the landlord-tenant laws.
About This Article
