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 arrangement will allow a new tenant to take over the rent and the utilities while the original tenant is away to reduce their financial responsibility. This can be a short term arrangement or one that goes until the end of the current lease period.
Subletting Laws in New Mexico
In the state of New Mexico, there are no specific laws that pertain to subletting a rental property, but if the original lease states that this is not allowed, then it cannot be done for the rental unit. The landlord cannot simply refuse a sublease when there is nothing written in the original lease, but they can request that they give their consent when the person renting the unit changes. A written notice for a sublease agreement to occur should be sent to the landlord before the agreement begins. After a period of 30 days, it is inferred that the agreement is supported by the landlord.
The landlord does not have to deal with the new tenant; the original tenant will take over the role of sublessor, which will effectively make them the landlord to the subtenant or the new tenant. They will still be responsible for making sure that the landlord gets the rent on time, and that the tenant follows all of the terms of the lease.
What to Include in a New Mexico Sublease Agreement
- The term of the agreement. This should include the start date as well as the end date.
- The names of the sublessor and the subtenant.
- The address of the rental property.
- The amount of rent that the subtenant will be responsible for paying. Also, include where the rent should be taken.
- The security deposit that the new tenant will be responsible for paying.
- Other expenses that the new tenant will need to cover. If the utilities are staying in the original tenant’s name, it needs to be mentioned as well.
- The terms of the lease, including whether pets are permitted on the premises.
- The signature of both parties, the date of the signing, and the landlord’s consent if it is required.
