New Mexico Landlord-Tenant Law

Maximum deposit

For rental agreements shorter than one year, landlords may not demand or receive a deposit above one month's rent; on annual agreements a larger 'reasonable' deposit is allowed but triggers annual interest (NMSA 1978 § 47-8-18(A)). (NMSA 1978 § 47-8-18(A))

Return deadline

A landlord keeping any part of the deposit must give the tenant an itemized written list of deductions and any balance within 30 days after the tenancy ends; to be safe, count from the earlier of lease termination or move-out, because the forfeiture rule runs from termination of the tenancy (NMSA 1978 § 47-8-18(C)-(D)). (NMSA 1978 § 47-8-18(C)-(D), N.M. Legislature CCJ Committee handout (Aug. 25, 2026), slide 'Fees Assessed at Move-out' citing NMSA 1978 § 47-8-18(C))

Itemized deductions

A landlord who withholds any part of the deposit must give the tenant an itemized written list of deductions and the balance within the 30-day period, and may not withhold for normal wear and tear (NMSA 1978 § 47-8-18(C)). (NMSA 1978 § 47-8-18(C), N.M. Legislature CCJ Committee handout (Aug. 25, 2026) citing § 47-8-18(C))

Interest on deposits

On an annual rental agreement, a landlord who takes a deposit larger than one month's rent must pay the tenant interest on it each year at the passbook savings rate (NMSA 1978 § 47-8-18(A)(1)). (NMSA 1978 § 47-8-18(A)(1))

Penalty for wrongful withholding

A landlord who misses the 30-day itemized statement forfeits the right to keep any of the deposit or sue for damage and owes the tenant's court costs and attorney fees, and bad-faith retention adds a $250 civil penalty (NMSA 1978 § 47-8-18(D)-(E)). (NMSA 1978 § 47-8-18(D)-(E))

Late-fee limit

If the lease provides for one, a late fee may not exceed 5% of the rent for each rental period in default, must be calculated on rent alone, and must be noticed by the last day of the following rental period (NMSA 1978 § 47-8-15(D)). (NMSA 1978 § 47-8-15(D), as amended by Laws 2025, ch. 122, § 6 (SB 267), NMSA 1978 § 47-8-15(D) (official compilation))

• In effect since June 20, 2025.
• Before June 20, 2025: Late fee capped at 10% of the rent for each rental period in default (Laws 1995, ch. 195).

Grace period

New Mexico sets no grace period: a lease-authorized late fee may be charged once rent is not paid as the rental agreement requires (NMSA 1978 § 47-8-15(B), (D)). (NMSA 1978 § 47-8-15(B), (D), NMSA 1978 § 47-8-15(B), (D) (official compilation))

Unless otherwise agreed, a New Mexico owner must give 24 hours' written notice stating the intent, purpose, date and estimated time frame before entering, except in emergencies or for repairs requested by the resident within the past seven days (NMSA 1978 § 47-8-24). (NMSA 1978 § 47-8-24)

Either party may end a New Mexico month-to-month residency with written notice given at least 30 days before the periodic rental date named in the notice (NMSA 1978 § 47-8-37(B)). (NMSA 1978 § 47-8-37)

A New Mexico owner must give written notice of a rent increase at least 30 days before the periodic rental date on a month-to-month residency, or at least 30 days before the end of a fixed term (NMSA 1978 § 47-8-15(F)). (NMSA 1978 § 47-8-15, 2025 SB 267 as enacted (Laws 2025, ch. 122), § 6)

New Mexico has no rent control, and no city, county or home-rule municipality may adopt an ordinance controlling rents on privately owned housing (NMSA 1978, § 47-8A-1). (NMSA 1978, § 47-8A-1, NMSA 1978, Chapter 47 compilation (NMOneSource))

List the base rent and every fee in plain language in any published listing, give the resident in writing at or before move-in the name, address and phone number of the manager and the owner or agent, and give the federal lead-paint disclosure for pre-1978 housing (NMSA 1978, §§ 47-8-19, 47-8-19.1). (NMSA 1978, §§ 47-8-19, 47-8-19.1)

• All costs of the rental agreement in plain language in any published listing: base rent and an itemized description of every fee or charge (In the published listing (from June 20, 2025)) — NMSA 1978, § 47-8-19.1
• Name, address and phone number of the manager and of an owner or agent for service of process and notices (In writing at or before the start of the residency, kept current) — NMSA 1978, § 47-8-19(A)
• Lead-based paint disclosure and EPA pamphlet (Housing built before 1978) — 42 U.S.C. § 4852d; 40 CFR Part 745 Subpart F

Unpaid rent

For unpaid rent, give written notice of nonpayment and intent to terminate; if the resident doesn't pay within 3 days the agreement may end, but tendering the full amount due before the 3 days run out bars the eviction (NMSA 1978, § 47-8-33(D)). (NMSA 1978, § 47-8-33(D))

Lease violations

For a first material breach, give written notice with dates and facts that the agreement ends at least 7 days after receipt unless the breach is fixed within 7 days; a second breach within 6 months allows a 7-day notice with no cure, and the notice must be given within 30 days of the breach (NMSA 1978, § 47-8-33(A)-(C)). (NMSA 1978, § 47-8-33(A)-(C))