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MICHIGAN SECURITY DEPOSIT
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A security deposit is made to protect the landlord
against the tenant's failure to follow his or her
responsibilities as stated in the lease. This
includes nonpayment of rent or damage done to the
apartment by the tenant, other than ordinary
wear and tear
(normal).
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In
Michigan, "Security deposit"
means a deposit, in any amount, paid by the tenant
to the landlord or his or her agent to be held for
the term of the rental agreement, or any part of the
term, and includes any required prepayment of rent
other than the first full rental period of the lease
agreement. Any sum required to be paid as rent in
any rental period in excess of the average rent for
the term; and any other amount of money or property
returnable to the tenant on condition of return of
the rental unit by the tenant in condition as
required by the rental agreement.
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Security
deposit does not include either of the following:
(i)
An amount paid for an option to purchase, pursuant
to a lease with option to purchase, unless it is
shown the intent was to evade this act.
(ii)
An amount paid as a subscription for or purchase of
a membership in a cooperative housing association
incorporated under the laws of this state. As used
in this subparagraph, "cooperative housing
association" means a consumer cooperative that
provides dwelling units to its members. (f)
"Senior citizen housing" means housing for
individuals 62 years of age or older that is
subsidized in whole or in part under any local,
state, or federal program.
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MAXIMUM
AMOUNT MICHIGAN SECURITY DEPOSIT
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Security deposit; amount. A landlord may require a security deposit for
each rental unit. A security deposit shall be
required and maintained in accordance with the terms
of this act and shall not exceed 1 1/2 months' rent.
NOTE: A Michigan Landlord may charge a cleaning fee.
Read your contract.
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SECURITY
DEPOSIT NOTICE TO TENANT
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A
Michigan landlord shall not require a security deposit
unless he notifies the tenant no later than 14 days
from the date a tenant assumes possession in a
written instrument of the landlord's name and
address for receipt of communications under this
act, the name and address of the financial
institution or surety required by section 4 and the
tenant's obligation to provide in writing a
forwarding mailing address to the landlord within 4
days after termination of occupancy.
The notice
shall include the following statement in 12 point
boldface type which is at least 4 points larger than
the body of the notice or lease agreement: "You
must notify your landlord in writing within 4 days
after you move of a forwarding address where you can
be reached and where you will receive mail;
otherwise your landlord shall be relieved of sending
you an itemized list of damages and the penalties
adherent to that failure." Failure to provide
the information relieves the tenant of his
obligation relative to notification of the landlord
of his forwarding mailing address.
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SECURITY DEPOSIT
USE BY LANDLORD
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A
Michigan Security Deposit may be used only for the
following purposes:
(a) Reimburse the landlord for
actual damages to the rental unit or any ancillary
facility that are the direct result of conduct not
reasonably expected in the normal course of
habitation of a dwelling. See normal
wear and tear
(b) Pay the landlord for
all rent in arrearage (rent due) under the rental agreement,
rent due for premature termination of the rental
agreement by the tenant and for utility bills not
paid by the tenant.
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Disclaimer:
Laws change over time and there may be times when information on this web site will not be current. This information is
for general informational purposes only. It is not intended as
legal advice nor is it a comprehensive treatment of the
subject. It is not a substitute for advice from an attorney. FIND
EVICTION LAWYERS IN YOUR STATE . |
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