A Michigan commercial lease agreement is a legally binding contract between a business entity and a landlord of commercial property. It establishes a rental arrangement between the two parties so the landlord can receive rental revenue and the company can conduct its operations in the space.
These leases are usually more complex than residential leases, so a landlord and tenant can work together to define the transaction’s details, the parties’ information, base rent, security address, the property’s address, and the intended use.
Michigan Business Entity Search: A landlord can look up a business in this directory to ensure it can legally conduct business in the state.
REQUIREMENTS
Rental Laws: Michigan Compiled Laws 174-1962-2A.
Consumer Protection Laws: MI Comp. Laws § 440.2804.
Jurisdiction: According to MI Comp. Laws § 440.2806, the choice of jurisdiction is only enforceable if the jurisdiction is one in which the tenant resides when the lease agreement comes into effect or in which the goods are to be used.
