In New Mexico, the regulation of rent is primarily governed by NM Stat § 47-8A-1. This state prohibits rent control. The law bans rent control throughout the state, allowing all landlords to set rent and increase it with proper notice.
|Minimum Notice for Rent Increases||30 Days|
|Max. Late Fee||10% of rent|
|Max. Bounced Check Fee||No Statute|
When Can a Landlord Increase Rent in New Mexico?
A New Mexico landlord may not increase rent during a lease. If a landlord wishes to increase the rent on an “at-will” tenant, he/she may do so at any time so long as the appropriate notice is provided.
When Is It Illegal to Raise Rent in New Mexico?
It is illegal for a New Mexico landlord to increase rent in retaliation for a tenant asking for repairs, filing a complaint with the appropriate agency, joining a tenant’s group, or testifying on the behalf of another tenant (New Mexico Code 47-8-39).
According to Federal Fair Housing Act, it is illegal for a landlord to raise rent based on the age, race, religion, nation or origin, familial status, or disability status of a tenant.
Is There a Rent Increase Limit in New Mexico?
New Mexico does not have any specific state statues on how much rent can be increased.
How Much Notice Is Needed for Raising Rent in New Mexico?
A New Mexico landlord must provide a 30-Day Notice before increasing rent to a month-to-month tenant and a 30-Day Notice for a fixed-term tenancy. It can be provided 30 days prior to the end of the term. Any other periodic tenancy that is less than one month, a tenant must be provided with at least one rental period in advance of the first rental payment increase. (New Mexico Code 47-8-15).
How Often Can Rent Be Increased in New Mexico?
New Mexico does not regulate how frequently rent may be increased.
Laws Regarding Late Fees in New Mexico
A landlord may charge a tenant up to 10% of the rent in late fees and has up to the end of the following month to provide notice of this charge. (New Mexico Code 47-8-15)
Laws Regarding Bounced Check Fees in New Mexico
There are no specific state statutes regarding bounced check fees.
New Mexico Cities With Rent Control
New Mexico legislation prohibits rent control.