Provides that landlords would pay interest on security deposits in residential landlord-tenant matters.
Provides that landlords would pay interest on security deposits in residential landlord-tenant matters.
Tenant security deposits.
Limits security deposits to one month's rent; requires landlords to return the full security deposit and any accrued interest to which the tenant is entitled less any amount retained by the landlord within 21 days of the end of the lease.
Housing: landlord and tenants; return of security deposit by electronic transfer; allow. Amends sec. 9 of 1972 PA 348 (MCL 554.609).
Tenant Security Deposit Protections
Establishes and modifies provisions relating to landlords and tenants
An Act Concerning The Amount A Landlord May Require For A Security Deposit.
Revises provisions relating to landlords and tenants. (BDR 10-514)
Housing: landlord and tenants; methods of communication between landlords and tenants; update. Amends secs. 3, 9, 10, 11, 12 & 13 of 1972 PA 348 (MCL 554.603 et seq.).