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New Mexico Security Deposit Demand Letter

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New Mexico Security Deposit Demand Letter

Updated December 02, 2022

A New Mexico security deposit demand letter informs a landlord that a tenant’s security deposit has yet to be returned. A tenant can deliver the letter to the landlord if they fail to receive their security deposit within thirty (30) days after their tenancy expires or after they vacate the premises, whichever date is later. The landlord may deduct from the deposit any late rent payments and the costs of any damages (excluding general wear and tear). If the landlord has cause to withhold all or a portion of the security deposit, they must also provide the tenant with a list outlining the deductions and the remaining balance owed. Should the landlord fail to return the deposit and the itemized list of deductions (if applicable) by the thirtieth (30th) day, they shall waive their right to reserve funds from the deposit and to pursue a counterclaim against the tenant in a legal dispute. The landlord may also be liable to pay court costs and legal fees.

Laws § 47-8-18