Michigan landlord tenant law security deposit

A sample lease, sublease, roommate agreement, leadbased paint disclosure form, and inventory checklist. Michigans security deposit law applies to agreements for rental units. Michigan landlords are required to place the security deposit in a regulated financial institution to be held there for the benefit of the tenant. Tenants in michigan have specific security deposit rights under michigans landlord tenant law. The security deposit is considered the lawful property of the tenant, until the landlord establishes a right to itgenerally by obtaining a judgment in a court of law. Michigans current landlord tenant laws place the following regulations and restrictions on the collection, maintenance, and redistribution of security deposits collected from tenants. Under michigan law, a landlord must return the tenant s security deposit, with an itemized statement of deductions, within 30 days after the tenant has moved out. Landlord and tenant relationships act 348 of 1972 an act to regulate relationships between landlords and tenants relative to rental agreements for rental units. Standard limit maximum amount currently, landlords in michigan are only allowed to charge security deposits that are valued at up to 1. A landlord must return the tenants security deposit within 30 days of the move out date. Security deposit help for tenants michigan legal help. The security deposit can be up to oneandahalf times the monthly rent. Michigan law requires residential landlords to properly manage tenants security deposits.

See michigan security deposit limits and deadlines for more on the subject. Under michigan law, a landlord must return the tenants security deposit, with an itemized statement of deductions, within 30 days after the tenant has moved out. If the landlord makes any deductions from or keeps all of. A practical guide for tenants landlords michigan legislature. Michigan s current landlordtenant laws place the following regulations and restrictions on the collection, maintenance, and redistribution of security deposits collected from tenants.

A landlord cannot charge a security deposit to a tenant unless the tenant is given the required written notice no later than 14 days from the date a tenant. If the landlord keeps the security deposit despite failure to bring the action or win the same, the landlord may be made liable for double the security. The person is just short of being considered a trespasser. Michigan s security deposit law applies to agreements for rental units. If youre renting your home, the security deposit law applies. Transfer security deposit when property is sold upon sale or other transfer of property in michigan, the landlord must transfer all security deposits to the new owner and notify all tenants in writing of the transfer along with the name and address of the new owner.

Alternatively, the landlord may post a cash or surety bond with the secretary of state. It includes apartments, boarding houses, rooming houses, mobile home spaces, and single and twofamily dwellings. As a landlord you must deposit all security deposits collected from tenants into a regulated financial institution e. Michigan landlords must provide tenants with notice of damages prior. A rental unit is a structure used as a home by a single person or family. As a landlord you must deposit all security deposits collected from. Tenants in michigan must dispute the landlord s stated deductions within seven days of receiving the itemized list and balance, if any, or give up any right to dispute them. Whether you are a tenant or a landlord, when you sign a lease agreement, you.

One bond may be posted for all the security deposits the landlord is holding. Michigan law also regulates the return of the tenants security deposit. Tenants in michigan must dispute the landlords stated deductions within seven days of receiving the itemized list and balance, if any, or give up any right to dispute them. Sample letters about repair and maintenance, termination of occupancy, and notice of forwarding address. Here are seven basic rules for landlords and tenants. Failure of the landlord to file a suit when there is a dispute may result in the landlord owing the tenant two times the security deposit. The landlord and tenant relationships act found in the michigan compiled law defines a security deposit to include any deposit, including any required. This is true no matter what the deposit money is called. Transfer security deposit when property is sold upon sale or other transfer of property in michigan, the landlord must transfer all security deposits to the new owner and notify all tenants in writing of the transfer along with the name and address of the. Michigan security deposit limit and return michigan state law limits how much a landlord can charge for a security deposit one and onehalf months rent, when it must be returned within 30 days after a tenant moves, and sets other restrictions on deposits. If the tenant objects to the landlord s retention of any part of the security deposit, the landlord must either return the corresponding amount or file an action in court for a money judgment within 45 days of the tenant s move out date. Michigan compiled laws complete through pa 85 of 2020. Keep the funds in the account and use them only for the purposes authorized by law landlord tenant relations.