Landlord tools · New Mexico

New Mexico residential lease agreement.

Everything a New Mexico lease must get right in 2026 — deposit limits, late fees, notice periods, and required disclosures — plus a free builder that applies each rule for you and outputs a signable PDF.

1 monthSecurity deposit cap

30 daysDeposit return deadline

24 hrsEntry notice required

30 daysTo end month-to-month

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Security deposits in New Mexico

New Mexico caps security deposits at 1 month of rent. Cap applies to leases under 1 year; longer leases uncapped but excess earns interest After the tenancy ends, the deposit must be returned within 30 days. With itemized deductions Returning one now? Use the free New Mexico deposit return letter generator — it computes the deadline and itemizes deductions for you.

Late fees and grace periods

New Mexico limits late fees: 5% of rent per rental period. No grace period is required by statute, though many leases include one. Cut from 10% to 5% by SB 267, eff. 6/20/2025; notice by end of next period.

Landlord entry and notices

Landlords must give at least 24 hours' notice before entering, except in emergencies. 24 hours' written notice, reasonable times. Ending a month-to-month tenancy takes 30 days' written notice (30 days' written notice). Rent increases require 30 days' advance notice (30 days before rental due date for month-to-month). Planning an increase? The free New Mexico rent increase notice generator applies the notice period automatically.

Required disclosures in a New Mexico lease

Lead-based paint (federal). Pamphlet + known-hazard disclosure required (Required when: pre-1978 housing.)
Owner/agent identity. Written name/address of manager and owner or service-of-process agent (Always required.)
Late fee provision. Late fee only chargeable if stated in the rental agreement (Required when: if late fees charged.)

Clauses you can’t put in a New Mexico lease

Late fees above 5% or based on fees/utilities
Waiver of Owner-Resident Relations Act rights
Confession of judgment clauses

Utilities and pets

Utilities: Must disclose utility cost-allocation method for shared meters on request. Pets: Pet deposits count toward deposit cap for leases under 1 year.

Frequently asked questions

How much can a landlord charge for a security deposit in New Mexico?

New Mexico caps security deposits at 1 month of rent. Cap applies to leases under 1 year; longer leases uncapped but excess earns interest

How long does a New Mexico landlord have to return the deposit?

30 days after the tenancy ends. With itemized deductions

Are late fees limited in New Mexico?

Yes — 5% of rent per rental period. Cut from 10% to 5% by SB 267, eff. 6/20/2025; notice by end of next period

How much notice before a landlord can enter the unit in New Mexico?

At least 24 hours, except in emergencies. 24 hours' written notice, reasonable times

Does New Mexico have rent control?

No statewide rent control. State law preempts local rent control

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Key statutes: NMSA § 47-8-18 · § 47-8-15 · § 47-8-19 · § 47-8-24 · § 47-8-37. Last reviewed 2026-07. This guide summarizes state law for convenience and is not legal advice; cities and counties may add their own rules.