Michigan Deposit Interest Rules
no interest requiredMichigan has no statewide requirement that landlords pay interest on security deposits (14 of 51 US jurisdictions do). Your lease may still promise interest — if it does, that promise is enforceable.
Educational information: generated from our Michigan law database (last updated 2024-01-01). Not legal advice.
How Michigan compares
14 of 51 US jurisdictions require landlords to pay interest on security deposits. Here is how Michigan compares with other states in our database.
| State | Deposit Interest Rules |
|---|---|
| Michigan | no interest required |
| Minnesota | interest required (deposits held 1+ year) |
| Mississippi | no interest required |
| Missouri | no interest required |
| Montana | no interest required |
Frequently asked questions
- Do landlords have to pay interest on security deposits in Michigan?
- No statewide statute requires it in Michigan, though local ordinances or your lease can add the obligation. Maximum 1.5 months rent (excludes nonrefundable cleaning fees). Must provide move-in checklist within 14 days of possession. Return within 30 days or provide damage list. Failure to comply: lose right to keep any deposit; tenant can sue for double damages.
- How large can the deposit itself be in Michigan?
- Michigan generally allows at most 1.5 months' rent as a security deposit.
- When do I get my security deposit back in Michigan?
- Generally within 30 days after move-out.
Check Your Lease Against Michigan Law
Not sure whether your lease complies with Michigan law? Upload it and our analyzer flags problem clauses — deposit terms, entry rights, fees and prohibited provisions — using the same statute-backed database this page is generated from.
Analyze My Lease FreeEducational tool — not legal advice. First analysis is free, no signup required.
More Michigan lease law guides
Educational information generated from state statute data — not legal advice. Consult a licensed attorney in Michigan for your specific situation.