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Landlord Tenant Relationship

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Term
Definition
Michigan Truth In Renting Act   Regulates rental agreements, commercial sale of rental agreement, prohibits inclusion of certain clause, requires inclusion of certain clause  
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Landlord   Right to property after termination of lease, right to receive rent, disclose defects to tenant, mataining common areas.  
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Tenant   Right to peaceful possession, must pay rent, responsible for damages beyond normal wear and tear.  
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Security Deposit   Advance amount paid by tenant,must be returned upon expiration of lease term, shall not exceed one and on half month rent in addition to first.  
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Requirements   Landlord shall not require a security deposit unless tenant has been notified in writing. No later than 14 days after tenant has possession. Tenant has 4 day  
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Use of Security deposit   To reimburse the landlord for damages caused by tenant. To reimburse the landlord for delinquent rent, utility bills, rent to from premature termination.  
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Damages   Upon termination landlord must send tenant within 30 days, a list of damages including cost of repairs and check for difference.  
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