Important notice: Michigan law established particular rights and obligations for parties to rental agreements. This agreement complies with the Truth-in-Renting Act. If you are unclear on any terms in this agreement, it’s recommended you consult a lawyer or other qualified person.
This Lease Agreement (hereinafter referred to as the “Agreement”) is made this (enter date) by and between:
[Landlord.LastName] (hereinafter referred to as "Landlord") and
[Tenant.LastName] (hereinafter referred to as "Tenant").
HEREINAFTER, the Tenant agrees to lease the Premises from the Landlord under the following terms and conditions:
Landlord hereby leases the property located at (insert property address) to the Tenant (the “Premises”). Residence type: (insert type of residence and designated use)
The Tenant may be evicted upon a seven (7) day Notice to Quit if it is discovered that the Tenant or any member of the household has manufactured, delivered, or possessed with an intent to deliver any controlled substance as defined by Michigan Public Act 368 of 1978.
This lease shall be considered a: (check one)
Fixed lease. The Tenant shall be allowed to occupy the Premises starting on (insert the lease start date) and ending on (insert the lease end date) (the “Lease Term”).
Month-to-month. The Tenant shall be allowed to occupy the Premises starting on (insert lease starting date) on a month-to-month basis. If either party wishes to terminate the agreement, they can do so by providing written notice at least (enter the number of days) days before vacating. All terms in this agreement will stand for the notice period and the Tenant will still be responsible for any rent payments during this period.
At the end of the Lease Term, the Tenant: (check one)
Can continue to lease the Premises on a monthly basis, under the same terms as this Agreement.
Must vacate (leave) the Premises.
Month-to-Month Lease. The Tenant shall be allowed to occupy the Premises on a month-to-month basis starting on (insert month and day), (insert year), and ending upon notice of (insert the number of days you require for notice) days from either party (“Lease Term”).
Tenant agrees to pay the Landlord a monthly installment of $ (insert amount) (the “Rent). The rent is paid in advance, not later than the 1st day of each calendar month.
Payments may be made via: (check one)
Electronic funds transfer (EFT) – Bank Details: (enter banking details)
Payments shall be made to the Landlord at Landlord's address as outlined in the preamble to this Agreement on or before the due date.
If Rent is not paid by the due date, the Tenant will be charged a fee of $ (insert amount) as a one-time payment. Rent is considered late when it is not paid within (insert amount) day(s) after the due date.
As part of this Agreement, Tenant will deposit with Landlord the sum of $ (insert amount) as security for any damage caused to the Premises during the term hereof. The Security Deposit is required by the Tenant upon the execution of this Agreement. Landlord will refund the security deposit after the termination of this lease term and within 30 days of the Tenant vacating the Premises and in accordance with the Landlord-Tenant Relationship Act in Michigan.
The Landlord will hold the security deposit in the following bank account: (enter bank account details)
The Landlord must provide the tenant with a Security Deposit receipt within five (5) days of receiving the deposit into the stated account.
The Landlord will not charge against the security deposit the cost of repair or cleaning unless necessitated beyond the ordinary wear and tear on the Property. The Tenant is not permitted to treat the Security Deposit as payment of any rent payment.
Notice: If you do not notify your Landlord in writing four (4) days after vacating the premises of your forwarding address, the Landlord will be relieved from sending you an itemized list of damages and penalties.
To clarify, the Tenant will have to pay the following sums to the Landlord on the execution date of this Lease Agreement and before the Tenant can occupy the Premises.
First month’s rent (prorated): $ (insert amount)
Security Deposit: $ (insert amount)
Other: $ (insert amount)