New Mexico Lease Agreement: What to Include
May 21, 2025A New Mexico residential lease should reflect the state's specific rules on security deposits, entry notice, late fees, and disclosures — a generic template often misses the details below.
Security deposit
Security deposit limit: 1 month rent for leases under 1 year; for 1 year+ no cap but interest required if deposit exceeds 1 month. Interest requirement: Yes if annual lease deposit >1 month rent. Deposits are generally expected back within 30 days of move-out, with an itemized list of any deductions.
Entry notice and late fees
Entry notice: 24 hours. Late fees: No statewide fixed cap; should be reasonable and stated in lease. Rent increase notice for month-to-month tenancies: 30 days.
Required disclosures
A New Mexico lease should include or accompany:
- • Federal lead-based paint
- • owner/agent disclosures
Eviction notice
For nonpayment of rent, New Mexico generally requires: 3 days. Confirm the current specific requirement before relying on it for an actual notice.
The bottom line
See LeasePilot HQ's full New Mexico landlord-tenant law summary for the complete breakdown with sources, or generate a lease with New Mexico-specific clauses built in automatically.
Frequently Asked Questions
How much can I charge as a security deposit in New Mexico?
1 month rent for leases under 1 year; for 1 year+ no cap but interest required if deposit exceeds 1 month. Confirm current specifics before setting a deposit amount.
How much notice do I need to evict a tenant for nonpayment in New Mexico?
3 days. Notice requirements can change, so confirm the current statute before filing.
What disclosures does New Mexico require in a lease?
At minimum: Federal lead-based paint, owner/agent disclosures. Requirements can be added by local ordinance on top of state law, so check your specific city or county as well.