Michigan landlords are required to place the security deposit in a regulated financial institution to be held there for the benefit of the tenant. Michigan s security deposit law applies to agreements for rental units. 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. A rental unit is a structure used as a home by a single person or family. The security deposit can be up to oneandahalf times the monthly rent.
The person is just short of being considered a trespasser. Michigan landlords must provide tenants with notice of damages prior. Security deposit help for tenants michigan legal help. 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. 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. 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. A landlord must return the tenants security deposit within 30 days of the move out date. If youre renting your home, the security deposit law applies. Michigan compiled laws complete through pa 85 of 2020. The landlord and tenant relationships act found in the michigan compiled law defines a security deposit to include any deposit, including any required. 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.
A security deposit is an amount of money taken from a prospective tenant and held in escrow until that tenant moves out. Sample letters about repair and maintenance, termination of occupancy, and notice of forwarding address. Standard limit maximum amount currently, landlords in michigan are only allowed to charge security deposits that are valued at up to 1. It includes apartments, boarding houses, rooming houses, mobile home spaces, and single and twofamily dwellings. Whether you are a tenant or a landlord, when you sign a lease agreement, you. Michigans security deposit law applies to agreements for rental units. A practical guide for tenants landlords michigan legislature. Here are seven basic rules for landlords and 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. Tenants in michigan have specific security deposit rights under michigans landlord tenant law. A sample lease, sublease, roommate agreement, leadbased paint disclosure form, and inventory checklist. Michigan law also regulates the return of the tenants security deposit.
Michigans current landlord tenant laws place the following regulations and restrictions on the collection, maintenance, and redistribution of security deposits collected from tenants. 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. Alternatively, the landlord may post a cash or surety bond with the secretary of state. Michigan s current landlordtenant laws place the following regulations and restrictions on the collection, maintenance, and redistribution of security deposits collected from tenants. 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 law requires residential landlords to properly manage tenants security deposits. 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. This is true no matter what the deposit money is called. Keep the funds in the account and use them only for the purposes authorized by law landlord tenant relations. 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. 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.
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