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Michigan
Landlord Security Deposit Bond

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Coverage Amount: $20,000 - $100,000
Term Length: 1 year
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Michigan Landlord Security Deposit Bond Guide

If you’re renting out properties in Michigan, you’ll likely need this surety bond to protect security deposit funds. 

Bond Overview

  • Purpose: To ensure proper handling of security deposit funds 
  • Who Needs It: Landlords in Michigan that collect security deposits
  • Regulating Body: The Michigan Department of Attorney General
  • Required Coverage: $20,000–$100,000
  • Premium Rate: 1–10%, credit-based

Learn all about the bond requirements and process in this guide. 

What Is a Michigan Landlord Security Deposit Bond?

A Michigan landlord security deposit bond ensures that landlords properly manage security deposit funds. It ensures that tenants will receive the appropriate deposit funds back after moving out.

Who Needs a Landlord Security Deposit Bond?

The Michigan Department of Attorney General requires this bond as part of the licensing process for landlords in the state. 

Your bond must cover 100% of deposits up to $50,000 and 25% of any additional deposit funds.

How Much Do Landlord Security Deposit Bonds Cost?

Michigan landlord security deposit bonds cost a small percentage of the required coverage amount, typically 1–10%.


Exact rates vary based on personal credit score. Apply for your free quote now!

Bond Type
$20,000-$100,000Landlord Security Deposit Bond

SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees. 

How Do I Get My Bond?

SuretyBonds.com provides the fastest and easiest way to get a Michigan landlord security deposit bond. Just follow these quick steps: 

  1. Apply: Submit an online quote request form
  2. Quote: Receive your quote within one day
  3. Sign: Complete the indemnity agreement 
  4. Buy: Purchase the bond online 24/7

We’ll mail you the bond via your preferred shipping method. Be sure to file it with the Department of Attorney General as instructed. 

If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance. 

How Does a Michigan Landlord Security Deposit Bond Work? 

A landlord security deposit bond creates a legal contract between these three parties: 

  1. Principal: You, the landlord filing the bond
  2. Obligee: The Michigan Department of Attorney General requiring the bond
  3. Surety: The provider issuing the bond

This holds you financially responsible for upholding the provisions of Michigan Compiled Laws Section 554.604. 

If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety. 

How Do I Renew My Bond?

These bonds expire annually. To renew your landlord security deposit bond, simply pay your renewal invoice when prompted. 

We’ll begin contacting you by phone and email 90 days before the expiration date.

Call 1 (800) 308-4358 to talk with a Surety Expert

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