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The Michigan Truth in Renting Act regulates residential leases ? prohibiting certain clauses or provisions and prescribing penalties. A provision or clause in a lease that violates the Truth in Renting Act is void.
Here is an example of a rent amount clause in a lease: "The Tenant agrees to pay $12,000 as rent, to be paid as follows: $1,000 per month, due on the 1st day of each month. Payment of the first month's rent and any security deposit is due upon the signing of this Lease by the Tenant.
You have the right to live in a home that is in good, habitable condition. This means both your home and the premises, such as a yard, should be safe and in good repair. Your landlord must also keep any common areas in good enough shape for their normal use.
Use Clauses This clause defines how the tenant can and can't use the property they're leasing. The use clause may be very specific, so it's important that you read its terms carefully.
Michigan Lease Agreements do not need to be notarized. The Rental Contract is legally binding as long as it's signed by both the Landlord, or the lessor, and the Tenant, or the lessee.
While leasing and renting share many similarities, there are some subtle distinctions between the two. The main difference is the length of tenancy. A rental agreement is usually short term or month-to-month, while a lease is typically for a longer period of time, usually six months or more.
Leases don't have to be in writing. But if a lease is written, it must include the name and address where the landlord will notify the tenant of changes to the lease. The lease must tell tenants they must give the landlord a forwarding address in writing where they can be reached within four days after moving out.