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Businesspeople encounter many
legal issues beyond the topics covered in a typical Business Law course. This
report gives you the opportunity to explore an additional legal topic that has
potential application to your business career. Select a legal topic from this
list: Landlord-Tenant Law in Michigan Write a report about your topic. The
report must be at least four pages, double-spaced, 12-point font, and standard
margins. Your sources list (see below) is not credited toward the report′s page
count. A cover page is not required and will not be credited toward the page
count. Your report should contain the following content. Answer the
career-application question, How is knowledge of this area of law useful to
your particular career field? Be specific and provide details here. Discuss at
least three subtopics related to your topic. For example, if your report were
on intellectual property (not an acceptable report topic because it′s in the
textbook), your three subtopics might be trademarks, patents, and copyrights.
You get to personalize your report to match your research interests. Use and
cite at least three sources. Business Law at WCC and Wikipedia are not
acceptable sources for this outside research project. Other law textbooks,
casebooks, law-firm websites, business books, and legal websites (such as Avvo
and Findlaw) are acceptable sources.
Landlord-Tenant Law in Michigan
Student’s Name
In Michigan, landlord-tenant law protects persons
against social ills such as exploitation. Once an individual becomes a tenant,
the landlord must maintain the unit through constant repairs, making it
habitable. The law demands that at the beginning of a tenancy, landlords must
provide occupants with inventory checklists to let both parties to recognize
pre-existing damages before the commencement of a rental term. A person can
request for an inventory list from a previous tenant to determine the deduction
rate on security deposits following losses. At the end of a rental terms, landlords
must issue tenants with a list outlining damages caused, and they must return
all or part of the security deposit with 30 days after a person vacates a unit.
Under Michigan law, legislations protect parties within the landlord-tenant
relationship.
In this paper, I will focus on three different
subtopics; (a) security deposit, (b) tenancy, and (3) subleasing. All these
subtopics are essential as they summarize rights and responsibilities in rental
relationships.
CAREER
APPLICATION
The landlord-tenant law is feasible for my report
since it is relevant to my personal and career development as a major in
Property Development. I purpose to start a property agency in Downtown Detroit that
will construct and acquire at least 20 units, eventually leasing them to
interested parties. However, I only possess basic knowledge concerning the
rental relationships; for that reason, it is my goal to accumulate adequate
knowledge regarding laws and legislation protecting rights and privileges of
both tenants and landlords. As an enthusiast of property development, insights
regarding creation and termination of rental terms are relevant within my
career choice as they will spur success.
SECURITY
DEPOSIT
Under Michigan law, a security deposit is any
refundable amount or any prepayment of rent other than the initial rental
payment. Some property owners demand that tenants pay both the first and last
month's rent before the beginning of a tenancy, in this case, the later becomes
a security deposit (Phillips & Miller, 2018). In some areas, the Michigan
Legislature (2017) reported that property owners require renters to provide additional
charges to cater for credit checks. While these fees do not qualify as a
security deposit, if they are otherwise refundable, Michigan law considers them
as security deposit (Hatch, 2017). All of these descriptions explain what
exactly tenants and landlords should recognize as security deposit. Not only
does the law define a security deposit, but it also outlines its recovery
process.
At the end of a tenancy period deposit, a tenant can
only claim a security deposit if he or she provide a landlord with an address
but in writing. According to D’Amato (2016), without receiving a forwarding
address, then a property owner is under no obligation to make arrangements for
providing the security deposit. Upon receiving a forwarding address, Evans and
Porter (2015) postulated that landlords must return all or part of the money
within 30 days after a leaseholder vacates a unit. If a landlord keeps part of
the deposit, they must furnish the tenant with an inventory list of damages and
expected costs of repairs (Hatch, 2017). Landlord-tenant law stipulates the
recovery process of a security deposit.
TENANCY
Michigan law outlines the different types of tenancies...
