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A New Mexico lease agreement is a legal form used when leasing rental property. in exchange for rent payments.
Rental Application – The rental application is a form used by Landlords to collect information from prospective Tenants credit and renting history.
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 Standard Residential Lease Agreement
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 Simple (1-Page) Lease Agreement
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Most Recent US Home Facts
- Population (2023): 334,914,895
- Median Households (2022): 125,736,353
- Median Household Income (2022): $75,149
- Owner-occupied Households (2022): 64.8%
Source: U.S. Census Bureau
Agreement Form Must Include the Following
Required Disclosures (3)
- Copy of Lease
- Lead-Based Paint Disclosure Form
- Landlord Identity
Source: § 47-8-20(G)
Security Deposit
Maximum – When authorizing the lease, the landlord may request any amount from the tenant as there is no set limit but the state of New Mexico requires the amount to be “reasonable”.
Return – The Landlord must return all deposits to Tenants within 30 days.
Return – The Landlord must return all deposits to Tenants within 30 days.
Source: § 47-8-18(A)
Paying Rent
Grace Period – There’s no grace period laws in New Mexico.
Maximum Late Fee – The maximum late fee Landlords can charge Tenants is 10% of the total rent payment for the period of the late rent amount.
Source: § 47-8-15(D)
Landlord Entry
Landlords must provide their tenants with notice of at lease 24-hours (1 day) before entering the rented premises for any non-emergency purpose.
Source: § 47-8-24(A)(1)
Sample
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