Updated April 14, 2023
A New Mexico rental application is a verification form provided by landlords when reviewing a tenant for housing. The landlord will use the personal information entered to screen the tenant and use their signature as consent that the details provided are accurate. After the verification is complete, the landlord will inform the tenant if they’ve been approved or rejected.
Laws
- Application Fee – There is no limit the landlord can charge a tenant for a non-refundable fee (no statute).
- Security Deposit – The landlord is legally permitted to demand one (1) month’s rent for tenancies lasting less than a year. For tenancies lasting a year or more, the landlord may charge more but is required to pay the tenant annual interest “equal to the current passbook interest rate in savings and loan accounts in the State” (§ 47-8-18(A)).