Michigan Real Estate Exam Practice Question
According to the Truth in Renting Act, which of the following is required to be contained in a lease?
Correct Answer: A
Rationale: The inclusion of a specific statement informing the tenant of their rights is essential under the Truth in Renting Act, ensuring tenants are aware of their protections and responsibilities. This transparency fosters a fair rental environment.
Option B, while important, does not specifically fall under the required lease contents mandated by the Act. Option C, discussing penalties for lease violations, may be relevant but is not explicitly required by the Act. Finally, Option D regarding rent increases is also significant but is not a mandated clause in every lease under the Act's provisions.
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