The Mississippi lease agreement articulates the legalities and specifics of a contract to lease a property for a predetermined duration. A typical transaction begins first with an applicant completing a questionnaire with the requested information, and if accepted, a leasing contract can be drawn up based on the negotiation of the terms. When the lessor and lessee have created a lease that is ideal for both, execution of the document can be carried out to initiate the commencement of the contract.
Lease Agreements By Type
Commercial Lease Agreement – Avows to paper the commitment to rent real property to conduct business for a selected length of time and a monetary payment.
Lease to Own Agreement – Goes over the specifics granting use of a dwelling for a span of time and monetary amount with the added opportunity to acquire upon the termination of the lease.
Month-to-Month Lease – Examines the technicalities of a home rental arrangement in detail while providing possible dissolution with thirty (30) days notice should either party wish to do so.
Roommate Agreement – Records the bond to rent a section of living space for a duration and disbursement amount.
Sublease Agreement – Creates a contract allowing a tenant to lease to another for an expressed amount of time.
The laws governing common practice between an owner and lessee of a leased real estate are set forth inside the contents of Mississippi Code Title 89, within Chapter 7 – Landlord and Tenant (§ 89-7-1 — 89-7-125) and Chapter 8 – Landlord and Tenant Act (§ 89-8-1 – 89-8-29).
Required Landlord Disclosures
There are no mandated disclosures that require representation within the leasing materials in the state of Mississippi. U.S. Federal law, however, does obligate that the precautions to be taken with Lead-Based Paint be addressed to potential tenants regarding buildings built in 1978 or earlier. A packet instructing individuals on the risks associated with contact with the substance is to be circulated to applicants that wish to lease the property (42 U.S. Code § 4852d).
When is Rent Late?
The interpretation of the leasing document should determine the date that payment for rent is to be handed-in to the landlord. There is no grace period appointed by the state government that supersedes the lease precedent.
Charges associated with late rental payment submissions are resolved in the condition of the leasing paperwork. There is no limitation as to how much an owner can prescribe as a fee for late rental payment.
Payments consigned in the form of a check that is rejected due to an overdrawn account will be liable to incur a possible fee. A charge of no more than $30 can be requested (if defined in the lease record) in addition to any accrued expenses from the banking establishment (§ 97-19-75).
Security Deposit Maximum
A maximum amount that a landlord can require for a tenant to occupy a rental residence is not designated within the state legislature.
Security Deposit Return
Compensation of all earnest money is to be recouped by the tenant with the additional submission of all itemized repairs and unpaid rent if applicable. Once the lease term has expired, property been released to the owner, and written request delivered, the landlord then has forty-five (45) days to send the funds (minus any deductions) to the former tenant (§ 89-8-21).
There is no defined statute concerning established protocol for a landlord to gain access to a dwelling for regular maintenance to the unit. It is generally accepted etiquette to include information on how much notice is to be given, along with suitable hours of entry, within the terms of the lease.
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