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Re: Breaking lease early - Landlord Forum thread 328637

Re: Breaking lease early by MrDan (Georgia) on December 12, 2014 @05:38

                              
A little research found the following;

In Michigan, a landlord cannot charge more than one and a half (1½) times your monthly rent for a security deposit.
The use of security deposits is governed by Michigan P.A. 348,1972. Your lease cannot waive any of your rights under the Security Deposit Act. A security deposit has a specific purpose: to reimburse the landlord for damage to the rental unit, unpaid rent, or unpaid utility bills left by the tenant.


Early Termination Fees
Some leases have clauses requiring that the tenant pay a certain amount of money for terminating the lease early. If this fee is higher than what re-rental would actually cost the landlord, consider refusing to pay it. For example, three months’ rent is probably not reasonable. If the amount is reasonable, you may opt to pay it so as to walk away from the deal without any worries. In any case, you should put any agreement you reach with the landlord in writing.

http://www.michiganlegalaid.org/library_client/housing/your_security_deposit_is_your_money_until_the_landlord_proves_otherwise/html_view

Clauses that purport to waive any rights granted to parties under the Landlord‐Tenant Relationship Act (LTRA), MCL 554.601 et seq., are prohibited and void. MCL 554.633(1)(b).

Michigan has a history of being fairly strict about early termination fees — if the fee written into landlords contract is greater than what it would reasonably cost for the landlord to acquire a new tenant, the courts are likely to force the landlord to waive it.
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