Corrales, NM Security Deposit Laws 2026
New Mexico limits security deposits to 1 month(s) of rent. In Corrales, that's $1,464 at the median 2BR rent of $1,464/month. Miss the 30-day return deadline and you could owe $2,928+.
In New Mexico, landlords must return security deposits within 30 days after move-out. The maximum deposit is 1 month(s) of rent. Failure to return on time or provide an itemized statement can result in penalties of $2,928 or more.
Key Takeaways — Corrales Security Deposit Laws
- Maximum deposit: 1 month(s) of rent = $1,464 at Corrales's median rent
- Return deadline: 30 days after tenant moves out
- Penalty for late return: Up to 2x the deposit ($2,928)
- Itemized statement: Required with any deductions
Security Deposit Laws in Corrales
Under New Mexico law, landlords in Corrales may collect a maximum security deposit of 1 month(s) of rent, regardless of whether the unit is furnished or unfurnished. At Corrales's median 2-bedroom rent of $1,464/month, that means the most you can legally collect is $1,464.
$1,464
max deposit (1mo × $1,464)
30 days
return deadline
$2,928
max penalty for late return
Returning the Deposit: The 30-Day Clock
Once a tenant moves out of your Corrales rental, New Mexico law gives you exactly 30 days to either return the full deposit or provide an itemized statement of deductions. The clock starts on the day the tenant surrenders possession — not when you inspect the unit.
What you can deduct from a security deposit in Corrales:
- Unpaid rent
- Damage beyond normal wear and tear
- Cleaning costs to restore the unit to move-in condition
- Costs for restoring or replacing personal property (if lease allows)
What you cannot deduct:
- Normal wear and tear (minor scuffs, carpet wear, faded paint)
- Pre-existing damage (document with photos at move-in)
- Professional cleaning if the tenant left the unit in reasonable condition
Penalty Warning
Violate New Mexico security deposit laws rules in Corrales and you could owe $2,928+. At Corrales's median rent of $1,464/month, even a single violation adds up fast.
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How Corrales Rents Affect Deposit Amounts
Deposit amounts scale with local rents. Here's what Corrales landlords typically collect:
| Unit Size | Median Rent (Corrales) | Max Deposit (1mo) | Penalty Risk |
|---|---|---|---|
| Studio | $1,009/mo | $1,009 | $2,018 |
| 1-Bedroom | $1,185/mo | $1,185 | $2,370 |
| 2-Bedroom | $1,464/mo | $1,464 | $2,928 |
| 3-Bedroom | $2,036/mo | $2,036 | $4,072 |
Rents based on HUD Fair Market Rents (FY2026) for Sandoval County.
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More Corrales Landlord Laws
Security Deposit Laws in Nearby Cities
Own properties in multiple cities? Rules may differ locally:
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Founder & CEO, LeaseBase · Sacramento landlord · Self-managing since 2019
LeaseBase is a property management platform — not a law firm. Consult an attorney for legal advice specific to your situation.
