A new law allows landlords the option to offer a higher referral fee to those who bring in new tenants.
House Bill 4693, which was recently signed into law, amends the Michigan Occupational Code to increase the maximum amount of a referral fee that may be given by a landlord and accepted by a tenant for the referral of a prospective tenant. The law, which took effect in March of this year, increases the maximum amount of a referral fee to a sum equal to one month’s rent.
Before the new law, landlords could only offer a sum equivalent to a one-half month of rent for a referral. Proponents of the law say it was enacted to give both landlords and current tenants more options when seeking out new prospective tenants.
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