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The Michigan rental and lease agreement template is a document used to create a contract between a tenant and a landlord for commercial or residential property. The landlord will usually carry out income and employment verification using a rental application form and also ascertain background information prior to signing a lease. It is advisable for lessors to always verify the economic situation of the prospective tenant to be sure they are capable of paying rent on a monthly basis.
Residential Laws – Chapter 554 (Real and Personal Property)
Commercial Rental Lease Agreement – This is a lease agreement that’s used to lease property that is designed for business use. There are multiple types of commercial leases depending on the situation. For properties used to conduct business.
Monthly Rental lease Agreement - A tenancy agreement in which there is no predetermined end date for the tenancy. Tenancy arrangements can be terminated by either the landlord or the tenant provided 30 days of written notice is given according to § 554.134.
Rent-to-Own Rental Agreement – A typical rental agreement that allows the occupant to acquire the property in the future once certain conditions are met. The price may be agreed upon in advance or it may be negotiated when the tenant exercises their option to purchase.
Roommate Lease Agreement – This is a formal contract that lays out the terms and conditions for people living in a shared housing arrangement. A contract for members of a shared housing arrangement.
Standard Residential Rental Contract – A common lease arrangement with a fixed term. This type of tenancy is the most widely used in the state and even around the country for residential leases.
Sublease Agreement – The act of a tenant under an active leasing contract to let someone else occupy their space until the end of their term. Usually, the property owner is required to consent to this arrangement. Additionally, two sublease options are available; a commercial sublease and a residential sublease.
Domestic Violence Victims – The property owner is required to write a statement in the leasing agreement, deliver it to the lessee, or hang it on the premises. See MCL 554.601b.
Inventory Checklist (§ 554.608) – A document outlining the state of the dwelling is required to be sent to the property owner within seven days of taking and requires a security deposit.
Lead-Based Paint Disclosure –Required by law that all lessors and agents of residential units built before 1978 furnish their tenants with this disclosure document. The document must be signed by every mentioned tenant in the lease contract.
Notice Information (§ 554.634) – The lessor is required to provide in the rental contract an address where the lessee can forward legal notices.
Truth in Lending Act – All agreements are required to outline this ACT in 12-point font and a minimum of 1/8 inch in height. See (§ 554.634)
Security Deposit Receipt (§ 554.603) – Is required to be provided by the lessor to the occupant including the bank storing the funds. Money deposited as security
Maximum (§ 554.602) – A lessor may require a maximum of one and a half months’ rent from a lessee.
Returning (§ 554.609) – The property owner is required to send back all funds associated with the security deposit within thirty days of the expiration of the tenancy.
The due date for rent is not set by Michigan law meaning payment is due on the date agreed on in the rental contract.
There is no set maximum in terms of late rent fee, but it is required to be stated in the rental contract and should be reasonable.
There is no law granting the right to the lessor to enter a property, but case law makes provision that property owners may access the premises for emergency reasons and preempt destruction to the property.