A Michigan lease agreement is a document signed by a landlord and a tenant that outlines the terms of renting residential or commercial property. The contract contains the length of the term, the rent amount, security deposit and fees, and other rental obligations. Once properly executed, the document is legally binding and can only be terminated under certain conditions.
A Michigan lease agreement is a document signed by a landlord and a tenant that outlines the terms of renting residential or commercial property. The contract contains the length of the term, the rent amount, security deposit and fees, and other rental obligations. Once properly executed, the document is legally binding and can only be terminated under certain conditions.
PDF DownloadA Michigan lease agreement is a document signed by a landlord and a tenant that outlines the terms of renting residential or commercial property. The contract contains the length of the term, the rent amount, security deposit and fees, and other rental obligations. Once properly executed, the document is legally binding and can only be terminated under certain conditions.
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“NOTICE: Michigan law establishes rights and obligations for parties to rental agreements. This agreement is required to comply with the Truth in Renting Act. If you have a question about the interpretation or legality of a provision of this agreement, you may want to seek assistance from a lawyer or other qualified person.”
Maximum Amount ($) – A security deposit cannot exceed one and a half months’ rent. [7]
Collecting Interest – Collecting and distributing interest from security deposits is not mentioned in state law.
Returning to Tenant – A landlord has 30 days to return the security deposit to the tenant at the end of the lease. [8]
Itemized List Required? – Yes, if the landlord plans to use all or a part of the security deposit for repairing damages, an itemized list must be sent to the tenant along with any balance remaining. [9]
Separate Bank Account? – No, state law only requires landlords to hold security deposits at a “regulated financial institution.” [10]
General Access – State statutes do not specify how much notice a landlord must give their tenant before accessing the property.
Immediate Access – Landlord access in emergency situations is not mentioned in state law.
Grace Period – There are no laws stating that a landlord must wait a certain number of days before charging a late fee.
Maximum Late Fee ($) – Michigan statutes don’t mention a maximum late fee amount.
Bad Check (NSF) Fee – If a tenant’s rent check bounces, they may be charged a $25 fee on top of the total rent amount if paid within 7 days or a $35 fee if payment is made within 30 days. [11]
Withholding Rent – Tenants may withhold rent and deposit it into an escrow account if a government agency suspends the property’s certificate of compliance due to unsafe or unhealthy living conditions. [12]
Non-Payment of Rent – Tenants who fail to pay rent may be served a notice to quit giving them seven days to pay or vacate the premises. [13]
Non-Compliance – As long as it’s written in the lease agreement, the landlord may terminate a tenancy for non-compliance by providing 30 days’ notice. [14]
Lockouts – Tenants who have been prevented access to their rental property may be entitled to recover monetary damages in addition to gaining re-entry. [16]
Leaving Before the End Date – A landlord’s remedies when a tenant abandons the rental property is not covered by state law.
Month-to-Month – Landlords and tenants have the right to end a monthly lease by providing one-month notice. [17]
Unclaimed Property – What to do with a tenant’s unclaimed property after abandonment or lease termination is not mentioned in state statutes.