New Mexico Rental Laws
New Mexico Statutes Annotated (NMSA) at § 47-8-1
through § 47-8-52
| Termination for Nonpayment Notice (Eviction Notice) | 3-Day Notice 47-8-33. Breach of agreement by resident and relief by owner. |
| Termination for Lease Violation Notice | 7-Day Notice; 47-8-33. Breach of agreement by resident and relief by owner. |
| Small Claim Court Limit | New Mexico Small Claim Court Limit is $10,000 |
| Handling Abandoned Property | Section 47-8-34.1 — Disposition of property left on the premises. |
| Penalty for Self-Help Eviction | Civic penalty twice the amount of rent, actual damages and prorated share of the rent for each day of the violation. |
| Tenant Withholding Rent for Repairs | No statute |
| Required Disclosures | Owner or Agent Identity 47-8-19. Owner disclosure. A. The owner or any person authorized to enter into a rental agreement on his behalf shall disclose to the resident in writing at or before the commencement of the residency the name, address and telephone number of: (1) the person authorized to manage the premises; and (2) an owner of the premises or a person authorized to act for and on behalf of the owner for the purpose of service of process and for the purpose of receiving and receipting for notices and demands. |
| Non-Refundable Fees | |
| Security Deposit Rules | Security Deposit Amount: up to 1 months (for leases under one year; no limit for leases over one year Interest payment on security deposits larger than one month: (1) Under the terms of an annual rental agreement, if the owner demands or receives of the resident such a deposit in an amount greater than one month’s rent, the owner shall be required to pay to the resident annually an interest equal to the passbook interest permitted to savings and loan associations in this state by the federal home loan bank board on such deposit. Deadline to itemize and return of security deposit: 30 days Section 47-8-18 — Deposits. |
| Month-to-Month Notice | 30 Days |
| Payment of Rent | Late fees cannot exceed 10% of the total rent payment for each rent period. 47-8-15. Payment of rent. |
| Property Entry Notice | 24 Hours |
