JMZ Blog › Investor Guides

A Michigan rental home is covered by three layers of rules: federal law (such as fair housing and lead paint disclosure), Michigan state law (such as security deposits, lease terms and the eviction process), and the city or township's own rental rules, which often include registration, inspections and a rental certificate. HOA or condo rules can add a fourth layer. The local layer is the one that changes most from one address to the next.

JMZ Blog › Investor Guides

If the home is vacant or the tenant stops paying, you still owe the mortgage, taxes, insurance and utilities, so your protection is a cash reserve, fast and correctly priced re-leasing, a firm collections process, and, if needed, a lawful Michigan eviction. Planning for these two risks before they happen is what keeps one bad month from becoming a bad year.

Southeast Michigan offers renters plenty of options, from walkable apartment communities to single-family homes with a yard and a garage. The right choice depends on your lifestyle, budget, and what you want your day-to-day to look like.