A Michigan standard residential lease agreement is a legally binding document that establishes the terms and conditions for a rental arrangement between a landlord and tenant. Before signing the agreement, the landlord usually verifies the tenant’s credentials through a rental application.
Lease Length Considerations
- Holdover converts to a year-to-year tenancy [1] .
- The duration of a residential lease is flexible and can be agreed upon in writing by both the landlord and tenant.
- In general, oral leases can be enforced only for terms that do not exceed one year.
Required Lease Disclosures
- Identification
- Domestic Violence Victims Notice
- Security Deposit Notice
- Truth in Renting Act Disclosure
- Inventory Checklist
- Disclosure of Lead-Based Hazards
More details on necessary disclosures and relevant laws can be found on our Michigan lease agreement page.
Security Deposit
Rent Payment
- Grace Period: None
- Maximum Late Fee: None.
- NSF Fee: A landlord is entitled to levy a $25 penalty for a returned check.
Landlord Resources
- Landlord-Tenant Laws – § 554 (Real and Personal Property)
- Handbook – A Practical Guide for Tenants & Landlords (PDF)
