New Mexico Standard Residential Lease Agreement

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New Mexico Standard Residential Lease Agreement

A New Mexico standard residential lease agreement is the contract by which a tenant is permitted to rent a landlord’s property. The document governs the rights and obligations of the parties and establishes the specifics of the rental. A standard lease remains in place for a specified term (typically one year) and, unlike a periodic tenancy lease, does not renew automatically.

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Last updated May 14th, 2025

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A New Mexico standard residential lease agreement is the contract by which a tenant is permitted to rent a landlord’s property. The document governs the rights and obligations of the parties and establishes the specifics of the rental. A standard lease remains in place for a specified term (typically one year) and, unlike a periodic tenancy lease, does not renew automatically.

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Rental Application – Used to vet individuals interested in renting an available unit.

Required Disclosures (2)

  1. Lead-Based Paint Disclosure (PDF) – This form discloses the risk of hazardous paint on the premises and is required if the property was built before 1978.[1]
  2. Owner Disclosure – The landlord must disclose to the tenant the property manager and owner’s (or their agent’s) name, address, and number.[2]

Security Deposits

  • Maximum Amount ($) – One month’s rent. If the landlord charges more, they must pay interest to the tenant.[3]
  • Returning to Tenant – 30 days.[4]

Rent Grace Period

There is no grace period mentioned in New Mexico state statutes.

Landlord Resources

Sources

  1. EPA/HUD Fact Sheet
  2. §  47-8-19(A)
  3. § 47-8-18(A)
  4. § 47-8-18(C)