New Mexico Month to Month Lease Agreement
The New Mexico Month-to-Month Lease Agreement is a written document used for leasing a rental on an incremental basis (no set end date). The form was created in-line with NM’s “Property Law” statutes and allows for the creation of rules and obligations that both a landlord and tenant(s) have to follow until either party ends the contract with a notice of thirty (30) days.
The form is most commonly used for renting out apartment units and vacation homes, although it can be used for any non-commercial property. Its short-term nature does not detract from the protections it provides the parties, as it contains almost everything a standard rental agreement contains (with the exception of the lease term), including information on the rental, required payments, utilities, guest and pet rules, and much more.
Statute: § 47-8-37
Required Notice to Terminate: Either the landlord or tenant has to provide a written notice at least thirty (30) days in advance of the next rent payment.