Michigan Waiver of Lease Provision by Lessor

• Category: Oil Gas and Minerals - Waivers
• State: Multi-State
• Control #: US-OG-567
• Format: Word; Rich Text

Description

This is a form of a Waiver of Lease Provision (by Lessor). Michigan Waiver of Lease Provision by Lessor is a legal agreement that allows a lessor (landlord) to release or waive certain terms or conditions of a lease agreement for a specific period or indefinitely in the state of Michigan. This provision gives the lessor the flexibility to modify, amend, or temporarily suspend various clauses outlined in the original lease. In the state of Michigan, there are different types of waiver provisions that lessors may include in lease agreements to meet specific requirements or circumstances. These include: 1. Rent Waiver: A lessor may opt to temporarily or permanently waive a portion or the entirety of the rent due from the tenant. This provision is often utilized in situations where the tenant may be experiencing financial hardship or when the property requires significant repairs or renovations. 2. Maintenance and Repairs Waiver: This provision allows the lessor to waive their responsibility for certain maintenance and repair obligations outlined in the lease agreement. The lessor may choose to shift these responsibilities to the tenant or agree to temporarily suspend them. 3. Late Fee Waiver: When tenants fail to make timely rent payments, landlords typically charge late fees as outlined in the lease agreement. However, lessors can include a provision to waive or reduce these fees in cases of reasonable circumstances such as medical emergencies, natural disasters, or other unforeseen events. 4. Termination Fee Waiver: In certain lease agreements, tenants may be required to pay termination fees if they decide to end the lease prematurely. However, a lessor can include a waiver provision to exempt the tenant from paying these fees. 5. Parking or Pet Fee Waiver: Some leases may include additional charges for parking spaces or for tenants owning pets. The lessor may choose to waive or reduce these fees as an incentive or due to specific circumstances. It is important to note that the inclusion of waiver provisions in a lease agreement requires careful consideration and legal expertise. Both the lessor and the tenant should fully understand the implications of any waivers and consult with legal professionals to ensure compliance with Michigan law and to protect their respective rights and interests.

Michigan Waiver of Lease Provision by Lessor is a legal agreement that allows a lessor (landlord) to release or waive certain terms or conditions of a lease agreement for a specific period or indefinitely in the state of Michigan. This provision gives the lessor the flexibility to modify, amend, or temporarily suspend various clauses outlined in the original lease. In the state of Michigan, there are different types of waiver provisions that lessors may include in lease agreements to meet specific requirements or circumstances. These include: 1. Rent Waiver: A lessor may opt to temporarily or permanently waive a portion or the entirety of the rent due from the tenant. This provision is often utilized in situations where the tenant may be experiencing financial hardship or when the property requires significant repairs or renovations. 2. Maintenance and Repairs Waiver: This provision allows the lessor to waive their responsibility for certain maintenance and repair obligations outlined in the lease agreement. The lessor may choose to shift these responsibilities to the tenant or agree to temporarily suspend them. 3. Late Fee Waiver: When tenants fail to make timely rent payments, landlords typically charge late fees as outlined in the lease agreement. However, lessors can include a provision to waive or reduce these fees in cases of reasonable circumstances such as medical emergencies, natural disasters, or other unforeseen events. 4. Termination Fee Waiver: In certain lease agreements, tenants may be required to pay termination fees if they decide to end the lease prematurely. However, a lessor can include a waiver provision to exempt the tenant from paying these fees. 5. Parking or Pet Fee Waiver: Some leases may include additional charges for parking spaces or for tenants owning pets. The lessor may choose to waive or reduce these fees as an incentive or due to specific circumstances. It is important to note that the inclusion of waiver provisions in a lease agreement requires careful consideration and legal expertise. Both the lessor and the tenant should fully understand the implications of any waivers and consult with legal professionals to ensure compliance with Michigan law and to protect their respective rights and interests.