The bill amends the existing law regulating landlord-tenant relationships in Michigan, specifically addressing rental agreements, security deposits, and legal remedies. It introduces new provisions that prohibit landlords from using algorithmic pricing devices that utilize nonpublic competitor data to determine rental prices. The bill defines "algorithmic pricing device" and outlines exceptions for certain types of reports and products related to affordable housing. Additionally, it clarifies the definitions of key terms such as "landlord," "tenant," "rental agreement," and "security deposit," while also adding new definitions for "nonpublic competitor data" and "prospective tenant."

Furthermore, the bill establishes that landlords cannot coordinate pricing or enter into agreements that restrain the rental housing market using these algorithmic devices. Violations of this provision would be considered a breach of the Michigan antitrust reform act. The amendments aim to enhance transparency and fairness in rental pricing practices, ensuring that tenants are not subjected to unfair pricing strategies based on proprietary data.

Statutes affected:
Senate Introduced Bill: 554.601