Free New Mexico Lease Agreement
Generate a 2026 state-compliant lease in under 3 minutes. Includes required disclosures and compliance score.
1 Property
2 Lease Terms
3 People
Generating your New Mexico lease...
Your Lease is Ready
--
Compliance Readiness Score
Download Lease (PDF)
— or —
Creates a free LeaseBase account. Your property, tenant, and lease data will be waiting for you.
New Mexico Lease Agreement Requirements (2026)
Every New Mexico residential lease must comply with state landlord-tenant law. Here are the key rules your lease must follow:
| Rule | Requirement |
|---|---|
| Security Deposit Limit | 1 month’s rent (unfurnished) or greater of 1 month’s rent or $500 (furnished) |
| Deposit Return Deadline | 30 days |
| Late Fee Cap | 10% of monthly rent |
| Grace Period | No statutory requirement |
| Landlord Entry Notice | 24 hours notice |
| Rent Increase Notice | 30 days (month-to-month tenancies) |
Key New Mexico Landlord-Tenant Laws
- New Mexico Uniform Owner-Resident Relations Act (N.M. Stat. §47-8-1 et seq.) — Comprehensive landlord-tenant law covering security deposits, habitability, entry, eviction, and tenant rights.
Frequently Asked Questions
What is the security deposit limit in New Mexico?
For unfurnished units, the deposit is limited to 1 month’s rent. For furnished units, it is the greater of 1 month’s rent or $500. The deposit must be returned within 30 days.
Does New Mexico cap late fees?
Yes. New Mexico caps late fees at 10% of monthly rent. Landlords may not charge more than this amount even if the lease specifies a higher fee.
How quickly can a landlord start eviction for nonpayment in New Mexico?
Landlords must give a 3-day written notice to pay or quit. If the tenant does not pay, the landlord may file for eviction in court.
Learn more: New Mexico Landlord-Tenant Laws
