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Renting out a property in Michigan isn’t all about collecting payments at the end of the month. There are a variety of rules and regulations that you need to understand if you want to be a successful landlord. And among a landlord's duty is understanding the rights and obligations of both parties when it comes to lease breaking and failure to pay rent under Michigan law. In today’s article, we’ll look at both the justified and unjustified reasons for early lease agreement termination. With this knowledge, you’ll be able to know what you can and…

Michigan is a suburban state in the Midwest that offers great real estate investment opportunities. It’s a wonderful place with beautiful scenery and a lot of recreational activities for its residents and visitors. With its relatively low cost of living, affordable housing, and unique lakefront properties, Michigan offers a good quality of life that makes it a desirable place to live in. With its growing population, the demand for Michigan real estate is also increasing. This is one reason why Michigan is a great place for investors planning to…

Michigan Landlord-Tenant Laws gives landlords the right to request a resident's security deposit. As a Michigan landlord, this allows you to safeguard yourself against a number of potential financial damages that can result from renting out your home under the landlord-tenant laws. You can use your resident’s security deposit to cover damages incurred during the tenancy that exceed normal wear and tear. Such damages to your rental unit include missing fixtures, holes in the wall, broken tiles or windows, and heavily stained carpets. If the resi…

Michigan is one of the most lucrative markets for investing in real estate. If you plan to invest in a Michigan rental home, it’s important to understand the landlord-tenant laws that rule the state to avoid any potential issues. As a landlord, you have the responsibility to ensure that you stay in compliance with these laws. Understanding the Michigan landlord-tenant law is important so that you’ll know your responsibilities as a landlord when you rent out your home. It is also crucial to understand the responsibilities and rights of your ren…

The Rental Property Owner’s Association has a wonderful podcast series. A recent episode asked a question many of you probably have too – Is Professional Property Management Worth It? In this episode, two local property investors James Loftus & Patrick Spitzley discuss their experiences with using a property manager to take over their portfolios. James owns a large portfolio of rental units in Grand Rapids. He also happens to be one of our customers, and we are grateful he chooses Compass to be his professional property manag…