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Landlord Resources
- Landlord and Tenant Relationships – Act 348 of 1972
- Conveyances of Real Property – Chapter 565
- Handbook (Guide) – A Practical Guide for Tenants & Landlords
A Michigan rent-to-own agreement establishes a real estate arrangement between a tenant and a landlord that allows the tenant to purchase the property. The lease will set out an option term during which the tenant must decide whether to proceed with the purchase. Other standard provisions include the cost of monthly rent and the option fee.
A Michigan rent-to-own agreement establishes a real estate arrangement between a tenant and a landlord that allows the tenant to purchase the property. The lease will set out an option term during which the tenant must decide whether to proceed with the purchase. Other standard provisions include the cost of monthly rent and the option fee.