Truth or Consequences, NM Security Deposit Laws 2026
New Mexico limits security deposits to 1 month(s) of rent. In Truth or Consequences, that's $1,004 at the median 2BR rent of $1,004/month. Miss the 30-day return deadline and you could owe $2,008+.
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 $2,008 or more.
Key Takeaways — Truth or Consequences Security Deposit Laws
- Maximum deposit: 1 month(s) of rent = $1,004 at Truth or Consequences's median rent
- Return deadline: 30 days after tenant moves out
- Penalty for late return: Up to 2x the deposit ($2,008)
- Itemized statement: Required with any deductions
Security Deposit Laws in Truth or Consequences
Under New Mexico law, landlords in Truth or Consequences may collect a maximum security deposit of 1 month(s) of rent, regardless of whether the unit is furnished or unfurnished. At Truth or Consequences's median 2-bedroom rent of $1,004/month, that means the most you can legally collect is $1,004.
$1,004
max deposit (1mo × $1,004)
30 days
return deadline
$2,008
max penalty for late return
Returning the Deposit: The 30-Day Clock
Once a tenant moves out of your Truth or Consequences 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 Truth or Consequences:
- 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 Truth or Consequences and you could owe $2,008+. At Truth or Consequences's median rent of $1,004/month, even a single violation adds up fast.
Don’t risk it. Let LeaseBase handle the compliance.
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How Truth or Consequences Rents Affect Deposit Amounts
Deposit amounts scale with local rents. Here's what Truth or Consequences landlords typically collect:
| Unit Size | Median Rent (Truth or Consequences) | Max Deposit (1mo) | Penalty Risk |
|---|---|---|---|
| Studio | $692/mo | $692 | $1,384 |
| 1-Bedroom | $765/mo | $765 | $1,530 |
| 2-Bedroom | $1,004/mo | $1,004 | $2,008 |
| 3-Bedroom | $1,396/mo | $1,396 | $2,792 |
Rents based on HUD Fair Market Rents (FY2026) for Sierra County.
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More Truth or Consequences 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.
