NM · LEASE-AGMT · Updated July 2026 · Free
New Mexico Lease Agreement
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New Mexico at a glance: 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
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Overview
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.
Key Facts
New Mexico Lease Agreement — Quick Reference
| Requirement | New Mexico Rule |
|---|---|
| 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 |
Legal Requirements
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.
Governing Laws
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.
Read the full text of these laws at Cornell Law School's New Mexico legal resources or your state legislature's official website.
Questions & Answers
New Mexico Lease Agreement — Frequently Asked Questions
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.