How much can a landlord charge for a security deposit in Michigan?
Michigan law limits security deposits to 1.5 months's rent. Applies to security as defined in the state act.
How long does a landlord have to return the security deposit in Michigan?
Michigan landlords must return the security deposit — or provide a written itemized statement of deductions — within 30 days after the tenancy ends. After termination of occupancy; itemization and balance mailed.
Does Michigan require landlords to pay interest on security deposits?
No. Michigan law does not require landlords to pay interest to tenants on security deposits. MCL §554.604 does not impose a tenant-interest payment requirement.
Must Michigan landlords keep security deposits in a separate bank account?
No. Michigan law does not require a separate bank account for security deposits. §554.604(1) requires deposit in a regulated financial institution with a qualifying bond option; does not expressly require a separate account.
Automate security deposit compliance
Property management software handles deposit tracking, deadline reminders, itemized deduction statements, and compliant separate account requirements automatically — so you never miss a Michigan deadline.
This page is for informational purposes only and is not legal advice. Security deposit laws change — always verify the current statute or consult a licensed attorney in Michigan before making decisions. Official source: https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-554-604. Last reviewed: 2026-10-10.