MI HB5384

Changes "embodying" to "that incorporates" in the definition of rental agreement to clarify how terms and conditions are included in written agreements.

Restructures the list of limited agreement terms using roman numerals (i-vi) for clarity, covering party identity, premises description, rental period, total rental amount, payment amount, and payment timing.

Modifies the definition of "residential premises" to clarify it includes apartments, boardinghouses, rooming houses, mobile home spaces, and single- or multiple-family dwellings.

Excludes from residential premises definition hotels, motels, motor homes, temporary tourist accommodations, and owner-occupied residences rented occasionally during absences.

Adds exclusion for residences occupied by the seller on a temporary basis after the sale of that residence from the definition of residential premises.