Michigan Rental Lease Agreements is a legally guaranteed contract that allows one or more tenants to live or work in a leased property as long as they make consistent payments to the landlord. Leases set out a number of obligations that each party must meet until the lease expires or the contract is terminated early. Notwithstanding monthly leases, the average lease is for a term of one (1) year. Sublease Agreement – Designed for a tenant in a standard rental agreement and wishes to lease the property to someone else for the rest of its term. As a rule, the owner must accept this type of rental agreement. Lease to Own Agreement – A contract that provides landlords with a legal opportunity to rent their home to tenants while still having the option to purchase the rent at the end of the rental period. . . .