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What is classed as a short lease property? A short lease property is usually any lease with 70 years or fewer remaining. The shorter the lease on a property, the less it becomes worth. However, in some cases, properties with leases of five years or less remaining are still sold.

A Michigan month-to-month lease agreement is between a landlord and tenant for the renting of residential property without an end date. The lease will continue for an indefinite period until either the landlord or tenant decide to terminate by sending a notice to the other party.

A Michigan month-to-month lease agreement is between a landlord and tenant for the renting of residential property without an end date. The lease will continue for an indefinite period until either the landlord or tenant decide to terminate by sending a notice to the other party.

Usually a month-to-month tenancy, the lease is considered renewed at the end of each rental period (month- to-month or week-to-week, depending upon how often rent must be paid). Termination procedure is governed by statute and requires notice. Tenancy: This type of tenancy is created by operation of law only.

Its three major functions include: requiring landlords to disclose certain information in every lease; guaranteeing tenants certain rights under the law; and, prohibiting lease provisions that attempt to waive a tenant's guaranteed rights.

Rent control is illegal in Michigan as well as 32 other states, ing to the National Apartment Association. States such as California, New York, New Jersey, Maine, Minnesota, Maryland and Oregon have rent control policies at the state or local levels, the association said.