Commercial Lease Laws in Mississippi
Don't sign a lease in Mississippi until you understand the local statutes, tax implications, and common landlord traps.
Key Statutes & Considerations
Some MS leases include landlord-lien language affecting inventory/equipment. Get a lender-friendly lien waiver and limit any landlord lien to narrowly defined unpaid rent.
Along the Gulf, wind coverage and deductibles can be large. Ensure insurance premiums/deductibles passed through as CAM are disclosed and capped.
Common Red Flags in Mississippi
Commercial real estate in Mississippi typically favors the landlord in standard lease drafts. Whether you are in Jackson or elsewhere, you need to watch out for:
- Uncapped NNN Charges: Variable costs like property taxes and insurance can skyrocket.
- Broad Indemnification: Clauses that require you to pay for the landlord's negligence.
- Relocation Clauses: Rights for the landlord to move your business to a worse location.
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Frequently Asked Questions
Is a Triple Net (NNN) lease legal in Mississippi?
Yes, NNN leases are the industry standard for commercial retail and office space in Mississippi. They shift the burden of property taxes, insurance, and maintenance to the tenant.
Can I negotiate my commercial lease in Mississippi?
Absolutely. Unlike residential leases, commercial leases are presumed to be negotiated between equal parties. Never sign the first draft.