This office lease guaranty lists the conditions of the principal's obligations held in this bond. If all obligations of this guaranty are performed and indemnifies and holds harmless the obligee from any loss, costs, and expenses incurred by the obligee as a result of any failure or default by the principal in its execution of the agreement, then this obligation shall be void; otherwise it will remain in full force and effect.
Michigan Lease Deposit Guarantee Bond
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Multi-State
Control #:
US-OL4A025
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Word;
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How to fill out Lease Deposit Guarantee Bond?
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FAQ
In Michigan, a landlord is allowed to charge a cleaning fee but only insofar as necessary to bring the unit to the state it was in when the tenant moved in.
By statute, the maximum security deposit allowable is a 1½ times the monthly rent. This amount includes pet and other similar deposits. This amount does NOT include NONREFUNDABLE fees, such as cleaning and preparation fees.
If all of the following happen, you can sue your former landlord for double your security deposit (for example, if your security deposit was $1,500, you can sue for $3,000): Your landlord doesn't start a court case in 45 days or return your deposit to you.
Within 30 days of termination, the landlord must return the full security deposit or send the tenant an itemized list of damages along with any undisputed money. The notice must contain a statement advising the tenant to notify the landlord within 7 days if s/he disputes the landlord's claims.
AN ACT to regulate relationships between landlords and tenants relative to rental agreements for rental units; to regulate the payment, repayment, use and investment of security deposits; to provide for commencement and termination inventories of rental units; to provide for termination arrangements relative to rental ...
Michigan and U.S. fair housing laws say that landlords cannot discriminate against tenants or applicants because of their race, color, religion, sex, familial status (kids under 18), national origin, disability, age, or marital status.
Typically, if the property is in good condition and without the need for repair when the renter moves out, the security deposit may be refunded to them.
