New Mexico Standard Residential Lease Agreement
The New Mexico Standard Residential Lease Agreement (“rental contract”) is a legal document used for establishing protections and rules surrounding the renting of a home, apartment, condo, or room. The form has a typical expiration of one (1) year, after which the tenant(s) can decide to sign another lease or move out of the rental. Topics covered in the form include those relating to rent, security deposits, default, parking, pets, utilities, access, repairs, and required conditions established by state law. Being a form drafted by the NM Association of Realtors, the document contains all necessary disclosures and terms to comply with the state’s rental laws.
Tenant Screening: New Mexico Rental Application
Lease + Security Deposit Laws
Maximum Security Deposit (§ 47-8-18) – One (1) month’s rent for leases under one (1) year. For leases over one (1) year – no limit.
Lease Laws – §§ 47-8-1 to 47-8-52