Michigan Commercial Lease Agreement

The Michigan Commercial Lease Agreement is used to bind the owner or manager of a property with a business-owning tenant into a formal contract that spells out the terms and conditions of a rented space. The contract provides several customizable conditions that allow the landlord to set the term of the lease, the monthly rent, the security deposit, the expense structure (NNN, Mod. Gross, and Gross), and much more.


 


According to Michigan Statute § 566.106, a written contract is not required for leases under one (1) year in length. Additionally, Michigan law has minimal requirements regarding the makeup of a commercial lease. It requires only four (4) essential points of information, which consist of (1) a section that identifies the parties, (2) a description of the for-lease property, (3) the term of the lease (duration), and (4) the amount of monthly rent that will be due by the tenant. The lease offered for download covers these four points (and more).