Lake Arthur, NM Security Deposit Laws 2026
New Mexico limits security deposits to 1 month(s) of rent. In Lake Arthur, that's $1,071 at the median 2BR rent of $1,071/month. Miss the 30-day return deadline and you could owe $2,142+.
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 $2,142 or more.
This applies to properties in Lake Arthur, NM. Check all requirements for your property →
Key Takeaways — Lake Arthur Security Deposit Laws
- Maximum deposit: 1 month(s) of rent = $1,071 at Lake Arthur's median rent
- Return deadline: 30 days after tenant moves out
- Penalty for late return: Up to 2x the deposit ($2,142)
- Itemized statement: Required with any deductions
Security Deposit Laws in Lake Arthur
Under New Mexico law, landlords in Lake Arthur may collect a maximum security deposit of 1 month(s) of rent, regardless of whether the unit is furnished or unfurnished. At Lake Arthur's median 2-bedroom rent of $1,071/month, that means the most you can legally collect is $1,071.
$1,071
max deposit (1mo × $1,071)
30 days
return deadline
$2,142
max penalty for late return
Returning the Deposit: The 30-Day Clock
Once a tenant moves out of your Lake Arthur 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 Lake Arthur:
- 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 Lake Arthur and you could owe $2,142+. At Lake Arthur's median rent of $1,071/month, even a single violation adds up fast.
Lake Arthur Rental Market Context
Lake Arthur is the 80th-largest city in New Mexico (population 374). With a median 2-bedroom rent of $1,071/month, it falls in the above-average range for New Mexico rental costs — 3% above the state median of $1,040/month.
How Lake Arthur Compares in Chaves County
Lake Arthur ranks #4 of 4 cities in Chaves County by population. Because security deposit laws rules are often tied to rent amounts, costs vary across the county.
| City | Population | Median Rent | Max Deposit |
|---|---|---|---|
| Roswell | 47,109 | $1,071/mo | $1,071 |
| Dexter | 1,054 | $1,071/mo | $1,071 |
| Hagerman | 954 | $1,071/mo | $1,071 |
| Lake Arthur | 374 | $1,071/mo | $1,071 |
Rents based on HUD Fair Market Rents (FY2026) for Chaves County, New Mexico. All cities follow New Mexico state law unless a local ordinance applies.
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How Lake Arthur Rents Affect Deposit Amounts
Deposit amounts scale with local rents. Here's what Lake Arthur landlords typically collect:
| Unit Size | Median Rent (Lake Arthur) | Max Deposit (1mo) | Penalty Risk |
|---|---|---|---|
| Studio | $738/mo | $738 | $1,476 |
| 1-Bedroom | $887/mo | $887 | $1,774 |
| 2-Bedroom | $1,071/mo | $1,071 | $2,142 |
| 3-Bedroom | $1,421/mo | $1,421 | $2,842 |
Rents based on HUD Fair Market Rents (FY2026) for Chaves County.
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More Lake Arthur 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.
