The New Mexico rental agreements are documents that establish the relationship between a landlord and a tenant who wishes to use real property. These contracts set down terms associated with the rental, including the amount of the rent. The terms must comply with New Mexico’s landlord-tenant laws.
The New Mexico residential lease agreement (“rental agreement”) formalizes an agreement between a landlord and tenant to rent real property in exchange for a fee. Common terms and conditions included are the length of the occupancy, the amount of the periodic payment, and restrictions on the use of the property. Create an…
The New Mexico month-to-month rental agreement allows a landlord and a tenant to create a “tenancy at will” in which the tenant pays a monthly fee (“rent”) for the use of the landlord’s residential property. The contract has no end date and renews each month until terminated by either party. When a…
The New Mexico rental application form is used by landlords to screen for viable tenants to rent properties. Prior to writing up a lease, the tenant fills in their information and pays an application fee. The landlord uses that information to order criminal, credit, and other background reports. A well-designed, detailed form…
The New Mexico sublease agreement is a contract that allows the tenant ("sublessor") to rent (“sublease”) all (or a portion) of rental property to a new tenant (“subtenant”). The subtenant makes regular, periodic payments that may or may not be equivalent to the rent due on the original tenant’s lease. Basically, this…
The New Mexico roommate agreement (“room rental agreement”) is a contract that clarifies the financials, terms, and conditions of two or more tenants in a shared living situation (“co-tenants”). Each co-tenant must sign the contract to remain compliant with New Mexico state law. When a tenant decides that the amount of rent…
The New Mexico commercial lease agreement allows a tenant or business to rent office, retail, or industrial space. This type of contract can only be used by business or commercial entities and outlines the terms and conditions of renting and maintaining a commercial space. New Mexico Commercial Landlord/ Tenant Law The different…
New Mexico Required Lease Disclosures
- Landlord’s Name & Address (required for all) – New Mexico landlords must provide their contact information or the contact information for an agent authorized to act on the property’s behalf in the lease agreement to establish a line of communication for serving legal notices.
- Late Fee Disclosure (required for some) – Late fees must be disclosed in the lease agreement to be enforceable in New Mexico courts, and may not exceed 10% of the overdue balance.
- Lead Based Paint Disclosure (required for some) – To limit liability for damages resulting from lead based paint exposure, New Mexico landlords must provide a lead based paint disclosure for any buildings built before 1978, including a pamphlet from the EPA and notice of any known hazards.
To learn more about required disclosures in New Mexico, click here.
New Mexico Landlord Tenant Laws
- Warranty of Habitability – Among other duties, New Mexico landlords must provide their tenants with proper plumbing, heating, air conditioning, electrical outlets, and more. They must also provide repairs upon request within 7 days. Otherwise, the effected tenant can issue a 7-day notice and begin withholding rent.
- Evictions – To evict a tenant for non-payment of rent or committing a crime, a New Mexico landlord must issue a 3-day notice. A regular lease term violation would call for a 7-day notice, though. So, most evictions in New Mexico take about a week to complete.
- Security Deposits – Under most leases of less than a year, a New Mexico security deposit cannot exceed the value of 1 month’s rent. Longer leases may be able to exceed this cap, though. Regardless of its size, these deposits must always be returned within 30 days of a lease’s termination.
- Lease Termination – In New Mexico, a tenant must provide 30 days of notice to terminate their month-to-month lease successfully. Similarly, a fixed-term tenant may cut off their own lease early by providing evidence of active military duty, landlord harassment, or unit uninhabitability.
- Rent Increases & Fees – New Mexico landlords are free to set their own rent prices and raise those prices without justification. However, rent increases must always be preceded by notice equal to the periodic nature of the lease (30 days for a month-to-month lease). New Mexico also places some limits on fees charged, including a 10% cap on late rent fees. Bounced check fees are also capped at $25.
- Landlord Entry – Usually, a New Mexico landlord must provide 24 hours of notice before entering a unit. However, this standard does not apply to emergencies, inspections by public officials, or when performing repairs.
- Settling Legal Disputes – Landlord-tenant disputes worth less than $10,000 can be heard in New Mexico’s small claims court. Eviction cases are not heard here, but most other cases within the statute of limitations (6 years for written contracts, 4 years for oral agreements) are heard in this venue.
To learn more about landlord tenant laws in New Mexico, click here.