A Michigan standard residential lease agreement is a written document by which a landlord and tenant record all terms surrounding their rental arrangement, which involves the landlord renting their property to a tenant in exchange for a monthly payment. Once both parties sign the lease, the tenant is allowed to occupy the premises for housing purposes as long as they act within the confines of the agreement. Landlords often check prospective renters’ credentials through a background check prior to executing any contract. This way, the landlord can ensure their tenant is fiscally responsible and able to assume rental costs without any issues.
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