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New Mexico Standard Residential Lease Agreement Form

A New Mexico standard residential lease agreement is a binding fixed-term rental contract between a landlord and tenant. The landlord agrees to allow the tenant to use the space while the tenant pays monthly rent.
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Updated September 04, 2024

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Rental Application – Used to assess an applicant’s financial history.

Required Disclosures (2)

  1. Identity – The tenant must receive the names and addresses of the landlord and all other persons authorized to enter the premises.[1]
  2. Lead-Based Paint Disclosure & EPA Pamphlet – If the property was built before 1978, tenants must be made aware that lead-based paint could be in the walls or ceiling.

Security Deposit Laws

Maximum Amount – Up to one month’s rent.[2]

Returning – Deposits must be returned within 30 days of the end of a lease agreement. Any deductions must be outlined in an itemized list.[3]

Rent Payment Laws

Grace Period – None.[4]

Maximum Late Fee – 10% of the monthly rent.[5]

NSF Fee – The landlord may charge a fee of up to $20 for a bad check.[6]

Sources

  1. § 47-8-19(A)
  2. § 47-8-18(A)
  3. § 47-8-18(C)
  4. § 47-8-15(B)
  5. § 47-8-15(D)
  6. § 14.5.5.15(A)