A Michigan standard 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.
The lease includes the length of the lease, amount of rent, rent due date, and any deposits required. By signing the lease agreement, both parties agree to all rights, obligations, and liabilities.
Considerations on Lease Length
- Holdover converts to a year-to-year tenancy (Faraci v. Fassvio, 212 Mich. 216)
- 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.
Security Deposit
- Maximum Amount ($): One and a half month’s rent (§ 554.602)
- Returning to Tenant: Within 30 days (§ 554.609, 554.610)
Rent Grace Period
There is no rent grace period for rent payments.
Landlord Resources
- Landlord-Tenant Laws – § 554 (Real and Personal Property)
- Handbook – A Practical Guide for Tenants & Landlords (PDF)
