MI landlord security deposit bonds.
Flat 3%. Enter your amount.
Michigan landlords must normally hold security deposits in a regulated bank account — but under MCL 554.604 you can instead use the funds if you file a bond with the Secretary of State that the Attorney General accepts. We issue it at a flat 3% — enter the bond amount your deposits require and the premium updates.
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Apply to filed in one sitting.
Enter your amount, consent to a soft pull, and file the executed bond with the Secretary of State. Here is the whole thing:
Apply online
Your business details, the bond amount your deposits require, and the effective date. The only extra step is a one-time consent to a soft credit pull.
Reviewed & approved
Most clear quickly; if underwriting needs anything, an underwriter reaches out within 48 hours. The soft pull never affects your score.
File with the Secretary of State
Receive the executed bond ready to deposit with the Secretary of State; the Attorney General reviews it for sufficiency. Wet-ink originals mailed when the office insists.
The whole pricing page.
Bond amount × 3% = your premium, one-time, $275 minimum. Enter the figure your security-deposit exposure requires and the premium updates.
What it is and who needs it.
What the bond actually guarantees
Michigan's Landlord and Tenant Relationships Act (Act 348 of 1972) normally requires a landlord to keep tenants' security deposits in a regulated financial institution. MCL 554.604 gives an alternative: a landlord may use the deposit money for any purpose if they deposit a cash or surety bond with the Secretary of State.
The bond must secure the entire deposits up to $50,000, plus 25% of any amount exceeding $50,000, and it must be acceptable to the Attorney General — who can reject it only on reasonable criteria relating to the bond's sufficiency. It runs for the benefit of the tenants who made the deposits.
If you wrongfully retain a deposit, a tenant (or their legal representative) can sue on the bond directly in district court. It is not insurance for you — if the surety pays a tenant, you repay the surety. Enter the amount your deposits require and we issue at a flat 3%.
You need this bond if you're
Five minutes. The whole thing.
These are the actual underwriting fields, including a one-time consent to a soft credit pull. Submit once and your bond is typically issued within 1–2 business days.
Start the application →Common questions.
If yours isn't here, the bond team can usually answer within the hour.
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Other New York bonds.
Put your deposit cash to work.
Flat 3%, $275 minimum, five-minute application, e-signed bond in 1–2 business days. Free until issued.