New Mexico Standard Residential Lease Agreement Template

Maximum Amount: For leases under one year, security deposits are capped at one month’s rent (§ 47-8-18(A)(2)). For annual leases (1 year or longer), deposits exceeding one month’s rent are permitted, but the landlord must pay annual statutory interest on the total deposit (§ 47-8-18(A)(1)).

• Receipt Required? Yes, within 30 days of receiving the deposit, the landlord must provide a written notice stating the name and address of the financial institution, account type, current interest rate, and total deposit amount (§ 46:8-19)

Return Period: The landlord must return the security deposit (plus accrued interest, if applicable) within 30 days after lease termination or tenant departure, whichever is later (§ 47-8-18(C)).

• Itemized List Required? Yes. If withholding funds for unpaid rent, utilities, or actual property damage beyond normal wear and tear, the landlord must mail an itemized written list of deductions within the 30-day window (§ 47-8-18(C)).

Lead-Based Paint Disclosure: For residential structures constructed before January 1, 1978, landlords must distribute the federal EPA Lead Hazard Pamphlet and disclose any known lead-based paint hazards before lease execution (40 CFR § 745.113).

Owner and Manager Identity: At or before the start of tenancy, the landlord must disclose in writing the name, address, and telephone number of the property manager, as well as the owner or person authorized to accept service of process and official notices (§ 47-8-19(A)).

Written Lease Agreement and Rules Disclosure: Landlords must provide tenants with a copy of the written lease agreement and any applicable property rules and regulations prior to or at move-in (§ 47-8-20(G); § 47-8-23).