Free Mississippi Cash for Keys Agreement Template

Last reviewed September 2026

Written by LawLease Editorial

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Mississippi Cash for Keys Agreement

This Cash for Keys Agreement is built with Mississippi as the governing state. These are the Mississippi landlord-tenant rules that most often bear on it, with the statute for each.

Mississippi rules at a glance

Mississippi rules for a Cash for Keys Agreement
Security deposit limit	No statutory capMiss. Code §89-8-21
Deposit return	45 days after the tenancy ends, possession is delivered and the tenant demands itMiss. Code §89-8-21(3)
Itemized notice	To keep any part of the deposit, the landlord must deliver a written notice itemizing each amount claimed (§89-8-21(3)).
Month-to-month termination	30 days’ written notice (week-to-week: 7 days)Miss. Code §89-8-19
Nonpayment notice	3 days’ written notice to payMiss. Code §89-8-13(5)

Security deposits in Mississippi

Mississippi puts no limit on how much a landlord can collect as a security deposit. The money is held for the tenant, and the tenant’s claim to it comes ahead of the landlord’s own creditors (§89-8-21(2)).

Allowed deductions — Only amounts reasonably necessary to cover unpaid rent, damage the tenant caused beyond ordinary wear and tear, cleaning at move-out, and other reasonable expenses caused by the tenant’s default — if the deposit was taken for those purposes (§89-8-21(3)).
Itemized notice — To keep any part of the deposit, the landlord must deliver a written notice itemizing each amount claimed (§89-8-21(3)).
Return deadline — The balance is due no later than 45 days after all three of these have happened: the tenancy ends, the tenant delivers possession, and the tenant demands the deposit. A tenant who never asks for the deposit doesn’t start the clock (§89-8-21(3)).
Bad-faith penalty — Keeping a deposit in violation of the statute and without good faith can cost the landlord up to $200 in addition to the tenant’s actual damages (§89-8-21(4)).

Mississippi Cash for Keys Agreement FAQs

How much can a landlord charge for a security deposit in Mississippi?

There’s no statutory maximum — the deposit is whatever the lease sets. The statute controls what can be deducted and how quickly the balance must be returned (§89-8-21).

How long does a landlord have to return a security deposit in Mississippi?

No later than 45 days after the tenancy ends, possession is delivered and the tenant demands the deposit, together with a written itemization of anything kept. Bad-faith retention can cost up to $200 plus actual damages (§89-8-21).

How much notice to end a month-to-month lease in Mississippi?

Thirty days’ written notice before the termination date, from either side; week-to-week tenancies need seven days (§89-8-19).

Cash for Keys Agreement in other states

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