State Laws
Maximum Application Fee: No restrictions per NM law.
Security Deposits (§ 47-8-18): For leases under one (1) year in length, landlords cannot request security deposits greater than one (1) months’ rent. For leases one (1) year and longer, there are no limits as to what can be requested for security deposits. Once a lease ends, landlords have thirty (30) days to return the full value of the security deposit (or the remainder after deductions) to the tenant(s) to the address specified by the tenant. If no address was given, the landlord should send the deposit to their last known mailing address.