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Making a Michigan Lease Agreement
Simple to create, a Michigan Lease Agreement allows landlords to outline the terms connected to a tenancy. Making this contract may lower the risk of potential disputes down the road. When ready, you can tap or click on "Make document" to check out the Michigan Rental Contract sample. Suited for every residential property type, our rental agreement for Michigan can be used by landlords in Detroit, Grand Rapids, Warren, or any additional city or municipality in the Great Lakes State.
As with any other legal agreement, Michigan Lease Agreements are not legally binding until they are signed by the landlord and tenant(s). Unlike many other sites that you might come across, Rocket Lawyer offers more than a blank Michigan Lease Agreement template or fillable PDF that you could obtain elsewhere. If the lessee refuses to pay or there is a different problem related to your Michigan Residential Lease Agreement, your membership provides the optional benefit of Document Defense® protection.
Even if you are offering the rental as a favor, it is important to capture in writing the details of your commitments to those renting from you. Making this document will most likely be helpful due to the benefits shown here:
If you choose not to use this document, neither party will experience the protections that come along with having one in place.
The specific details that you should plan to add to your document are:
As you would expect, the Michigan Lease Agreements that you build with Rocket Lawyer also include policies about smoking, invited visitors, animals, past due payments, and moving out before the lease ends. While making your rental contract, you'll also be able to include information about furnishings, maintenance procedures, and insurance requirements. Using the Rocket Lawyer document tool, you have the ability to implement more personalization, as necessary.
Fortunately, you don't have to reinvent the wheel to put your agreement in writing. When using Rocket Lawyer, you should feel empowered to create a free Michigan Lease Agreement with ease. Your agreement will be assembled piece by piece as you provide more details along the way. Ordinarily, given the level of personalization, you might ultimately end up paying a conventional attorney a few hundred dollars, if not more, in fees.
In order to finalize your Michigan Lease Agreement, it must be signed and the tenant should get copies of the final agreement. You can use RocketSign® to handle this process. With a Premium membership, you also may save it as a Word or PDF document, make a copy, and/or print it as necessary. You might also like to explore our larger repository of contracts and other documents for property owners.
In Michigan, your residential lease might have some additional requirements. For example, Michigan state law limits the amount of the security deposit to one and a half month's rent. Additionally, as a landlord, you are required by law to give the tenant the name and address of the bank where their deposit is being held. That said, rental laws are continually evolving and they may vary by city or municipality. If you have any questions or concerns related to Michigan rental laws, you can connect with an attorney today. It can depend on whom you contact, but quite often some lawyers may not even accept requests to review your rental contract if they didn't write it. A better approach worth consideration is to go through attorney services at Rocket Lawyer. With a Premium membership, you will be able to request guidance from an experienced attorney or send additional legal questions about your Michigan Rental Contract. We are here to support you.
Michigan Lease Agreement Laws: Mich. Comp. Laws §§ 554.131 to 554.201; 554.601 to 554.641
The response to this question is somewhat subjective; but, regardless of where you are, there are several items to contemplate as you decide whether or not investing in rental property is right for you. These include the following: mandatory disclosures, the scope of tenants' rights, any restrictions on deposits or pet rent, and, finally, how difficult an eviction may be if there is a conflict. This being said, Michigan is the home of tourist destinations like the Henry Ford Museum of American Innovation, the Detroit Zoo, and the Motown Museum as well as schools like the University of Michigan, Michigan State University, and Michigan Technological University, so you won't have any shortage of potential short- or long-term visitors and tenants if you're nearby.