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    New Mexico Residential Lease Agreement

    New Mexico caps most security deposits at 1 month's rent (1 exception applies), and requires its return within 30 days after move-out.

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    New Mexico lease rules at a glance

    Key New Mexico rules for a residential lease, with the statute behind each
    RuleWhat the law says
    Security deposit cap1 month's rent (with exceptions)NMSA 1978 § 47-8-18(A)
    Deposit return deadline30 days after move-outNMSA 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)
    Late feesUp to 5% of the rent for each rental period the tenant is in default; calculated on rent only (not deposits, other fees or utilities); must be provided for in the rental agreement and noticed by the last day of the next rental period · grace period: no state grace periodNMSA 1978 § 47-8-15(D), as amended by Laws 2025, ch. 122, § 6 (SB 267), NMSA 1978 § 47-8-15(D) (official compilation), NMSA 1978 § 47-8-15(B), (D), NMSA 1978 § 47-8-15(B), (D) (official compilation)
    Landlord entry notice24 hours' noticeNMSA 1978 § 47-8-24
    Ending a month-to-month lease30 days (either side)NMSA 1978 § 47-8-37
    Rent increase notice30 days (Periodic residencies shorter than a month: written notice at least one rental period before the first increased payment. Fixed-term residencies: 30 days before the term ends. Increases to lease fees require 60 days' written notice (§ 47-8-19.4))NMSA 1978 § 47-8-15, 2025 SB 267 as enacted (Laws 2025, ch. 122), § 6
    Rent controlNone; cities barred from adopting itNMSA 1978, § 47-8A-1, NMSA 1978, Chapter 47 compilation (NMOneSource)
    Eviction notice for unpaid rent3 days (3-day notice of nonpayment and intent to terminate)NMSA 1978, § 47-8-33(D)

    New Mexico lease disclosures checklist

    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 currentNMSA 1978, § 47-8-19(A)
    • Lead-based paint disclosure and EPA pamphlet — Housing built before 197842 U.S.C. § 4852d; 40 CFR Part 745 Subpart F

    MakeLease generates a customizable lease; add these New Mexico disclosures and terms.

    Before you sign in New Mexico

    Deposit cap exceptions in New Mexico
    One month's rent for rental agreements shorter than one year; for annual (one-year) agreements the statute allows a 'reasonable' deposit with no fixed cap, but interest is owed on any deposit above one month's rent NMSA 1978 § 47-8-18(A)
    • Annual (one-year) rental agreement: 'reasonable' deposit allowed, no fixed cap; annual interest owed if the deposit exceeds one month's rent: no cap
    If a deposit is withheld wrongly
    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))
    Deductions from the deposit
    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 the deposit
    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))
    Rent control and increases
    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))

    No statewide rent control; no political subdivision or home-rule municipality may enact an ordinance or resolution that controls rental rates for privately owned property, except for property receiving government benefits or funding to provide reduced rents (NMSA 1978, § 47-8A-1).

    If rent goes unpaid
    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))

    New Mexico lease FAQs

    How much can a landlord charge for a security deposit in New Mexico?

    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)).

    How long does a New Mexico landlord have to return a security deposit?

    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)).

    Is there a limit on late fees in New Mexico?

    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)). 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)).

    How much notice must a New Mexico landlord give before entering a rental?

    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).

    How much notice ends a month-to-month tenancy in New Mexico?

    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)).

    What disclosures does a New Mexico lease need?

    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). The list covers All costs of the rental agreement in plain language in any published listing: base rent and an itemized description of every fee or charge, Name, address and phone number of the manager and of an owner or agent for service of process and notices and Lead-based paint disclosure and EPA pamphlet.

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