New Mexico Rental Lease Agreement Templates (7)

Broker Duties Disclosure (Form 1401): Rental property lease brokers provide this to the parties they represent in order to inform them of their duties.

General Addendum (Form 2300): Landlords use this paperwork whenever they must provide additional information to a lease.

Property Management Agreement (Form 6102): Landlords/Owners use this form to define terms whenever seeking property managers.

1.) Identification of the Landlord or Authorized Agents (§ 47-8-19): The state requires the name, address, and contact information for the owner of a property are explicitly put in writing.

2.) Lead-Based Paint (42 U.S. Code § 4852d) – Properties built before 1979 are held to the standard of providing informative materials on lead-based paint and its effects on human health.

3.) Utility (Submeter) Disclosure (NM Stat. Ann. § 47-8-20): Landlords with multiple units who receive the bill for all utilities and keep track of tenants with submeters must disclose such facts as well as the ratio or formula they use to calculate usage.

Grace Period: New Mexico explicitly states rent is due whenever the lease mandates (NM Stat § 47-8-15).

Unpaid Rent: Landlords serve a 3-day notice of nonpayment, which also warns that nonpayment results in lease termination (NM Stat § 47-8-33).

New Mexico allows up to a 10% (of rent) late fee, but only the exact fee in the lease is accordingly applicable (NM Stat § 47-8-15).

The landlords require tenants to reimburse bank fees, pay the lease late fee, and submit the check amount accordingly (NM Stat § 47-8-15)

Residential Buildings/Houses: A lease that is one year or less may not require more than one month’s rent; however, if more than one month is requested, the landlord must also return the “Passbook savings” interest rate on the amount (NM Stat § 47-8-18).

Mobile Home Parks: Mobile home landlords may request a deposit of 1 month’s rent or, specifically for multiwide units, 2 months’ rent (NM Stat § 47-10-8).

Returning to Tenant: Landlords have 30 days to return the deposit, as well as applicable interest after the later of:

• Lease termination
• The day the tenant vacates (NM Stat § 47-8-18).

Itemized List: In addition to the deposit, the landlord must produce an account of all deductions from the security amount (NM Stat § 47-8-18).

Standard Entry: Landlords must gain consent to enter as well as give 24 hours’ notice before they do so (NM Stat § 47-8-24).

Emergency Entry: Landlords may enter a residence without consent whenever an emergency situation requires immediate attention (N.M. Stat. Ann. § 47-8-24(B))