New Mexico Landlord Tenant Laws

New Mexico landlord tenant laws, New Mexico eviction laws, New Mexico renters’ rights, New Mexico Eviction Process

This is a summary of New Mexico Landlord-Tenant laws that apply to residential (non-commercial) rentals. These references were compiled from the New Mexico Statutes and various online sources to serve as a reference and for people wanting to learn about New Mexico landlord-tenant laws, New Mexico eviction laws, and New Mexico renters’ rights.

However, this guide is not comprehensive and PayRent does not warrant the accuracy of this information. Statutes can change any time the state legislature passes a new law. Additionally, counties and cities may have different regulations. Given its limitations, this guide is not an adequate substitute for legal advice from a knowledgeable lawyer. If you are dealing with a landlord-tenant issue, you seek guidance from a qualified attorney. If you need help finding an attorney, we’ve included a list of attorney referral services in this guide.

Rules and Regulations Governing New Mexico Landlord-Tenant Laws

New Mexico Lease Terms Provisions

Security Deposits

For rental agreements of a duration of less than one year, the deposit is limited to one month’s rent. Otherwise, there is no specific limit on security deposits in New Mexico, but the deposit must be reasonable. (N.M. Stat. Ann. § 47-8-18(A))

Yes, but only for annual rental agreements where the deposit is greater than one month’s rent. (N.M. Stat. Ann. § 47-8-18(A)(1))

No. There is no New Mexico law requiring security deposits to be stored in a separate bank account.

No. There is no New Mexico law forbidding non-refundable fees or limiting the amount that landlords can charge.

30 days, by mailing it to the last known address of the resident.. (N.M. Stat. Ann. § 47-8-18(C))

Yes. Landlords can use the deposit to cover accrued rent and to repair any damages to the property caused by tenants’ failures to comply with their duties (see Tenant’s Duties). (N.M. Stat. Ann. § 47-8-18(C))

Yes. Landlords must provide tenants with an itemized written list of the deductions from the deposit. (N.M. Stat. Ann. § 47-8-18(C))

No. There is no New Mexico law requiring landlords to issue receipts for security deposits.

No. There is no New Mexico law specifying record-keeping requirements.

The landlord forfeits the right to withhold any portion of the deposit, forfeits the right to assert any counterclaim in any action brought to recover that deposit, is be liable to the resident for court costs and reasonable attorneys’ fees, forfeits the right to assert an independent action against the resident for damages to the rental property. (N.M. Stat. Ann. § 47-8-18(D))

Rent

No. There are no rent control laws in New Mexico.

Rent is due without demand or notice at the time and place agreed upon by the landlord and tenant. Unless they agree to a different arrangement, rent is payable at the dwelling unit, at the beginning of the month and will be paid in equal monthly installments. (N.M. Stat. Ann. §47-8-15(A), N.M. Stat. Ann. § 47-8-15(B))

No. There is no New Mexico law requiring a certain payment method for rent.

Fees

Yes. Landlords can charge late fees up to 10% of the total rent for the rental period that is paid late. (N.M. Stat. Ann. § 47-8-15(D))

No. There is no New Mexico law requiring a grace period before assessing late fees.

Yes. There is no New Mexico law forbidding application fees or limiting the amount that landlords can charge.

New Mexico Landlord-Tenant Relations

Notices

Yes. An owner may increase the rent payable by the resident in a month-to-month residency by providing written notice to the resident of the proposed increase at least thirty days. In the case of a periodic residency of less than one month, written notice shall be provided at least one rental period in advance of the first rental payment to be increased. (N.M. Stat. Ann. § 47-8-15(F))

No. There is no New Mexico law requiring landlords to provide tenants with notice of pesticide use on the rental property.

No notice is required — the lease ends on the date stated in the lease.

Either the landlord or the tenant can terminate the tenancy with 7 days written notice. (N.M. Stat. Ann. § 47-8-37(A))

Either the landlord or the tenant can terminate the tenancy with 30 days written notice. (N.M. Stat. Ann. § 47-8-37(B))

There is no statute in New Mexico law covering this issue.

Entry Provisions