Michigan Security Deposit
Michigan return of security

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MICHIGAN SECURITY DEPOSIT

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). 

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.

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.

MAXIMUM AMOUNT MICHIGAN SECURITY DEPOSIT

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.

SECURITY DEPOSIT NOTICE TO TENANT

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.

SECURITY DEPOSIT USE BY LANDLORD

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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