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.
New Mexico Rental Agreement Types
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, HVAC, 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 (1/3 of the pro-rata daily rent for each day the landlord doesn’t make the repairs). There are no statutes allowing the tenant to repair and deduct rent for repair or maintenance purposes.
- Evictions – New Mexico landlords may evict tenants for a number of reasons including, but not limited to failure to pay rent, a violation of a leasing term, or committing an illegal act. Landlords must provide tenants with prior notice to pay, comply or quit, depending on the type of eviction. Evictions in New Mexico can take about a week or more than a month to complete.
- Security Deposits –In New Mexico, for leases that are less than one year, there is a maximum security deposit charge of one month’s rent, leases exceeding one year have no maximum amount but charging more than one month’s rent requires the landlord to pay a standard interest on the held funds. Regardless, a landlord must return any unused portion of the security deposit within 30 days after the end of the tenancy.
- Lease Termination – In New Mexico, a tenant must provide 30 days of notice to terminate their month-to-month lease. Similarly, a fixed-term tenant may end their own lease early by providing evidence of active military duty, landlord harassment, domestic violence, or unit uninhabitability.
- Rent Increases & Fees – New Mexico landlords are free to set their own rent price and increase without justification. A 30 days’ notice must be given to the tenant before the increase. New Mexico also places some limits on fees charged, including a 10% cap on late rent fees.
- 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.