Updated October 11, 2023
A Michigan commercial lease agreement is a legally binding contract between a business entity and a landlord of commercial property, such as retail, office, or industrial space. The lease agreement outlines all the terms and conditions of the arrangement, such as rent amount, duration, security deposit, and penalties for breach of contract. While commercial leases are not protected under residential landlord-tenant laws, the provisions in the contract must abide by the requirements outlined in the Michigan Uniform Commercial Code. The agreement becomes legally binding once signed by both parties.
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