Lease Agreement

Renting out a place or moving into one? This agreement lays out the basic terms: who’s renting, how much they’re paying, and what everyone’s responsible for. It’s the paper that protects both the landlord and the tenant if things go sideways.

What It Does

• Spells out amount of rent, security deposit, and lease duration;

• Defines who handles repairs, maintenance, and utilities;

• Sets the ground rules for damages, expectations, late fees, etc.;

• Can be used for month-to-month or fixed-terms;

What It Doesn’t Do

• Stand as a substitute for a property inspection or walk-through;

• Override Michigan landlord/tenant law; everyone has to play by the rules

Who Needs to Sign

• The Landlord – the person renting out the property

• The Tenant – the person renting the property

Does It Need to Be Notarized in Michigan?

Nope. Notarization isn’t required for a residential lease. Just make sure all parties sign and keep a copy.

Bottom Line

If money or property is changing hands every month, put it in writing. This agreement makes sure expectations are clear and everyone knows the deal.

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