Sec. 2.
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.
History: 1972, Act 348, Eff. Apr. 1, 1973 Popular Name: Landlord-Tenant Act
Structure Michigan Compiled Laws
Chapter 554 - Real and Personal Property
Act 348 of 1972 - Landlord and Tenant Relationships (554.601 - 554.616)
Section 554.601 - Definitions.
Section 554.602 - Security Deposit; Amount.
Section 554.603 - Security Deposit; Notice.
Section 554.604 - Security Deposit, Disposition; Bond.
Section 554.605 - Security Deposit as Property of Tenant.
Section 554.606 - Waiving Requirements of Act.
Section 554.607 - Security Deposit; Permissible Uses.
Section 554.608 - Inventory Checklists.
Section 554.609 - Itemized List of Damages; Check or Money Order; Contents of Notice of Damages.
Section 554.610 - Effect of Noncompliance With Notice of Damages Requirement.
Section 554.611 - Notice of Forwarding Address; Effect of Noncompliance.
Section 554.612 - Response to Notice of Damages.
Section 554.613 - Action for Damages; Retention of Security Deposit; Waiver.
Section 554.614 - Termination of Landlord's Interest; Liability for Security Deposit.