New Mexico Residential Lease Agreement

Last Updated: November 24, 2021 by Elizabeth Souza

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.

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New Mexico Lease Agreement Disclosures

The following disclosures are required for all residential lease agreements in New Mexico.

Disclosure Applicable to
Landlord Name/Address All Units
Late Fees All Units Charging Late Fees
Lead Paint All Units Prior to 1978

There are also a number of optional disclosures and addendums that help reduce future conflicts and/or legal liability in New Mexico.

Landlord’s Name & Address

Applicable to all rental units.

Any individual authorized to perform obligations under the Uniform Owner-Resident Relations Act, including the landlord and owner must disclose their name and address so future legal notices and demands that are sent by the tenant can be properly delivered. Generally, this information is provided in the rental agreement and shall be provided to the tenant in writing at or before the commencement of the tenancy.

Late Fee Disclosure

Applicable to any unit charging late fees.

Late fees in New Mexico must be outlined in the rental agreement to be enforceable, including the amount of the fee and the date it is assessed. This fee may not exceed 10% of the overdue balance.

The following is an example of a late fee section:

LATE FEE. If rent is not paid by the due date outlined in this lease, a late fee of ___% or $___ will be assessed to the balance after notice of late payment is provided.

Lead-Based Paint Disclosure

Applicable to any rental units built prior to 1978.

It is a federal law in the United States that any home built prior to 1978 must disclose the risks posed by lead-based paints. This law requires landlords in New Mexico to:

Download: New Mexico Lead-Based Paint Disclosure Form (PDF)

Optional Disclosures & Addendums (Recommended)

The following lease agreement disclosures and addendums are not required by New Mexico law in residential lease agreements, but either help reduce future conflicts with tenants or reduce legal liability for landlords.

  • Medical Marijuana Use – it is recommended to state where marijuana use is and isn’t allowed on the property so that expectations are clear. New Mexico law allows landlords to restrict marijuana usage to non-smoking methods only or control where users can smoke to not interfere with other tenants’ peaceful enjoyment of the premises.
  • Move-in Checklist – it is recommended to provide an itemized list of damages to the property before move-in to make sure tenants are responsible for any serious damages that occur during the lease term. This can be attached to the lease agreement or signed as a separate document.
  • Shared Utilities Arrangements – for rental units with shared utilities, it is recommended to disclose the specifics of how they are shared, and how each party’s bill is calculated, so that tenants have a reasonable expectation of what they owe each month.
  • Bed Bug Disclosure – for rental units with a history of infestation, it is recommended to provide information on the protocol for handling a bed bug infestation. This addendum will notify the tenant of their obligation to cooperate with bed bug prevention by promptly reporting any sign of infestation to the landlord.
  • Asbestos Disclosure – for rental units built prior to 1981, asbestos was a common building material. This disclosure will notify the tenant to take certain precautions to minimize the chance of disturbing the asbestos fibers (i.e. no sanding, pounding, modifications or repairs, without the landlord’s consent). The disclosure will also notify the tenant of their obligation to immediately notify the landlord if any ceilings begin to deteriorate.
  • Mold Disclosure – it is recommended to disclose the current mold status of a property in the lease to protect against future liability of mold damages due to the tenant’s negligence during the lease term.