What is New Mexico's security deposit limit?

For month-to-month tenancies, New Mexico caps deposits at one month's rent. For longer fixed-term leases, there is no statutory limit. Deposits must be returned within 30 days of move-out.

Does New Mexico have rent control?

No. New Mexico has no statewide or local rent control.

What notice is required for eviction in New Mexico?

For non-payment, New Mexico requires a 3-day notice to pay or quit before the landlord may file a petition for restitution in Magistrate Court.

New Mexico • Updated 2025

New Mexico Lease Agreement Template

Free, state-specific lease agreement template fully compliant with New Mexico law. Download instantly in PDF or Word format — no email required.

Lease Agreements in New Mexico

New Mexico landlord-tenant law is governed by N.M. Stat. Ann. § 47-8-1 et seq. (Owner-Resident Relations Act). New Mexico caps security deposits at one month's rent for month-to-month tenancies and has no cap for longer-term leases. Deposits must be returned within 30 days. New Mexico has no statewide rent control. The eviction process requires a 3-day notice for non-payment. Landlords must give 24 hours' notice before entry.

New Mexico Lease Agreement Key Facts

Security Deposit Limit

1 month's rent (month-to-month); no cap for fixed terms

Deposit Return Deadline

30 days after move-out

Notice to Terminate Month-to-Month

30 days

Eviction Notice (Non-Payment)

3-Day Notice

Landlord Entry Notice

24 hours

Rent Control

None

Governing Law

N.M. Stat. Ann. § 47-8-1

New Mexico Legal Requirements

✓Security deposit capped at 1 month's rent for month-to-month tenancies.
✓Deposits must be returned within 30 days with itemized deductions.
✓24 hours' advance notice required before landlord entry.
✓Lead paint disclosure required for pre-1978 properties.

New Mexico Governing Laws

N.M. Stat. Ann. § 47-8-18

Security Deposits

Limits deposits to 1 month's rent for month-to-month tenancies. Requires return within 30 days of move-out with itemized deductions.

N.M. Stat. Ann. § 47-8-36

Landlord Remedies

Governs New Mexico eviction process, requiring 3-day notice for non-payment before filing.

New Mexico Lease Agreement — FAQ

Legal Disclaimer

This template is provided for informational purposes only and does not constitute legal advice. Laws may have changed — consult a licensed New Mexico attorney for complex situations.