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Updated on April 17th, 2023

The New Mexico Standard Lease Agreement constructs a transcribed description of the obligations and permissions created in a bond to lease a residence. The commitment is demonstrated in various provisions to cover the range of specifications of tenancy in the contract. The presentation of terms to the accord is expressed in a written preparation to record the understanding and hold each of the parties liable to their conditions. Confirmation of the identities of the landlord(s), the tenant(s), and managing agent(s) are displayed for reference in the document. Additionally, paragraphs denoting the rent, security deposit, and term period are introduced within the agreement’s contents. Once each of the participating individuals is satisfied with the stipulations made by the included covenants, endorsements in the allocated areas can be affixed, solidifying the pact.

Rental Application – For those expected to rent a unit, it is conventional practice to be screened prior to entering into an occupancy agreement. A typical background examination is administered utilizing the information provided in the application. There is generally a fee charged to the applicant to obtain a credit and rental history report for further review.