Property Management
In Michigan, a residential landlord who fails to provide required disclosures under the Security Deposit Act (such as not providing a financial institution statement for the deposit location) may lose:
AThe right to collect any rent
BThe right to make deductions from the security deposit✓ Correct
COwnership of the property
DTheir property insurance coverage
Explanation
Michigan's Security Deposit Act requires landlords to provide tenants with specific disclosures about where the deposit is held. Failure to comply with these procedural requirements (including the institution statement) can forfeit the landlord's right to make deductions from the deposit.
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