The New Mexico month-to-month lease agreement is a rental document that continually recurs every thirty (30) days until either the lessor or lessee would like to seize the terms of the contract. This is something for renters or landlords to consider if they are not positive they want to be locked into a lease agreement for a fixed period of time, as the obligations of the lease can be ended at any time as long as the terminating party sends a non-renewal notice thirty (30) days preceding the expiration date of the contract.
Minus the term of the agreement, it is pretty comparable to most residential leases. It requires its users to describe the specifics of the arrangement within certain portions of the form, such as the identification of the landlord/tenant/property, dates of tenancy, and the amount of the rental payments. All this info should be transferred to the agreement and followed up with the endorsements of each party to finalize the contract.
Minimum Notice Required to Terminate Contract – Thirty (30) Days (§ 47-8-37)