Free New Mexico Lease Agreement Template

A New Mexico lease agreement is a written contract between a landlord and a tenant that allows the tenant to use a rental property in exchange for rent. It explains how much rent is due, when payments are made, how the security deposit works, what rules apply to pets and guests, and who handles repairs.

The agreement should be in writing and signed by both the landlord and the tenant so it is easier to enforce if a dispute arises. The landlord must also include contact details so the tenant knows who to reach out to with questions or problems.

New Mexico leases are governed by state law. These rules help ensure fair and safe rental practices for both landlords and tenants. Key requirements include:

• Security deposit maximum: Up to one month’s rent for leases shorter than one year (NM Stat § 47-8-18).
• Security deposit return deadline: Within 30 days after the lease ends (NM Stat § 47-8-18(C)).
• Rent control: New Mexico does not allow local rent control ordinances (NM Stat § 47-8A-1).
• Grace period: No statutory grace period for late rent.
• Late fees: The maximum late fee in NM is 10% of the monthly rent (NM Stat § 47-8-15).
• Rent withholding for repairs: Tenants may withhold one-third of the daily rent, or up to 100% if the unit is uninhabitable and they leave the premises, when the landlord fails to correct serious issues after proper notice (NM Stat § 47-8-27.1; NM Stat § 47-8-27.2).
• Landlord entry: Landlords must give at least 24 hours’ notice before entering the rental, except in emergencies (NM Stat § 47-8-24).
• Lease termination: Either party may usually end a month-to-month tenancy with 30 days’ written notice (NM Stat § 47-8-37).

Document Genius’s guided form helps you apply these rules correctly in your New Mexico lease agreement.

New Mexico law places clear limits and timelines on security deposits, especially for shorter leases.

• Maximum amount for short-term leases: If the lease term is less than one year, the landlord may charge up to one month’s rent as a security deposit (NM Stat § 47-8-18).
• Longer leases: If the lease term is one year or longer, the landlord can charge a higher deposit, but must pay interest to the tenant on any amount that exceeds one month’s rent (NM Stat § 47-8-18).
• Separate account: New Mexico does not require landlords to keep security deposits in a separate bank account.
• Receipts: State law does not require landlords to provide security deposit receipts, although doing so can reduce confusion.
• Return deadline: Landlords must return the security deposit within 30 days after the lease ends (NM Stat § 47-8-18(C)).
• Allowable deductions: Landlords may deduct unpaid rent, unpaid utilities, repair costs, and damages beyond normal wear and tear.
• Itemized statement: The landlord must send a written, itemized list of deductions and any remaining deposit within that 30-day period.

Spelling out these details in your New Mexico lease agreement helps make move-out smoother and reduces the risk of deposit disputes.

Your New Mexico lease agreement should clearly state when rent is due, how much is owed, and what happens if payment is late.

• Rent due date: Unless the lease says otherwise, rent is due at the start of each month or rental period (NM Stat § 47-8-15).
• Rent control: Cities and counties in New Mexico are not allowed to adopt rent control laws, so there is no local rent cap (NM Stat § 47-8A-1).
• Rent increases: For month-to-month leases, landlords must give at least 30 days’ written notice before increasing rent (NM Stat § 47-8-15).
• Grace period: New Mexico does not require a grace period. Rent is considered late as soon as it is not paid on the due date stated in the lease.
• Late fees: Any late fees must be reasonable and cannot exceed 10% of the monthly rent (NM Stat § 47-8-15).
• Nonpayment and eviction: If rent is not paid, landlords may start eviction by giving a 3-day notice to quit for nonpayment of rent.
• Rent withholding for serious issues: If a landlord’s serious violation affects health or safety, the tenant may give at least seven days’ notice and withhold one-third of the daily rent. If the unit is uninhabitable, the tenant may withhold all rent while they move out during repairs (NM Stat § 47-8-27.1; NM Stat § 47-8-27.2).

Including due dates, payment methods, late fees, and any rent-withholding rules in your New Mexico lease agreement sets clear expectations from day one.

New Mexico limits when and how landlords may enter a rental property to protect tenant privacy.

• Notice requirement: Landlords must give tenants at least 24 hours’ notice before entering the property, except in emergencies (NM Stat § 47-8-24).
• Reason for entry: The notice should state the reason for entry, such as repairs, inspections, or showing the unit to prospective tenants or buyers.
• Time frame: Landlords should give a reasonable estimate of when they plan to enter.
• Emergency access: In emergencies that threaten life or property, landlords may enter without advance notice.

Your New Mexico lease agreement should describe entry rules so both sides understand what is reasonable.

Both landlords and tenants share responsibilities for keeping the rental safe and livable.

• Landlord duties: Landlords must keep rental units habitable, follow local housing and safety codes, and make necessary repairs in a timely manner. They must also provide essential services like electricity, plumbing, water, heating or cooling, and trash collection (NM Stat § 47-8-20).
• Tenant duties: Tenants must keep their unit reasonably clean, handle minor repairs, and take care of fixtures and appliances. They should use electrical, plumbing, and sanitation systems properly and report issues before they become serious (NM Stat § 47-8-22).

Document Genius helps you add clear repair and maintenance clauses to your New Mexico lease agreement so there is less confusion later.

New Mexico landlords must provide certain disclosures in the lease or in attached documents. Your New Mexico lease agreement should include:

• Rental costs disclosure: Landlords must disclose all costs associated with renting, including recurring and non-recurring fees (Senate Bill 267).
• Property access and contact disclosure: The lease must specify who is allowed to access the premises and provide a mailing address for official notices (NM Stat § 47-8-19).
• Lead-based paint disclosure: For homes built before 1978, landlords must warn tenants about potential lead-based paint hazards and provide the required federal lead disclosure materials (42 U.S. Code § 4852d).

Including these disclosures in your New Mexico lease agreement supports transparency and legal compliance.

Ending a New Mexico lease agreement requires proper notice and, in some cases, special handling of left-behind property.

• Month-to-month tenancies: Either the landlord or the tenant may terminate a month-to-month rental with a 30-day written notice (NM Stat § 47-8-37).
• Fixed-term leases: These usually end on the date listed in the agreement. The parties may choose to renew or sign a new lease.
• Tenant belongings: If a tenant leaves personal property behind after moving out, the landlord must store it for at least 14 days before disposing of it. If the tenant has abandoned the property, the landlord must keep belongings for at least 30 days and provide written notice before disposal (NM Stat § 47-8-34.1).

By clearly explaining notice periods, move-out expectations, and how property is handled, your New Mexico lease agreement can make the end of the tenancy more predictable for both you and your tenant.