New Mexico, where Microsoft was founded in 1975 (back then it was “Micro-soft”). While it is more of a landlord-friendly state, that doesn’t mean there are no laws, or that landlords aren’t regulated. It is equally important as a landlord to understand your local laws.
At a Glance:
Late Fees: The fee charged may be no more than 10% of the rent.
Security Deposit: And that word again……reasonable unless the lease is less than one year, then no more than one months rent.
Returned Payment Fee Limit: There are no limitations outlined in the law, however, it is wise to keep them reasonable.
Notice to Enter: Landlord needs to provide a 24 hours notification before entering.
Late Fee/Returned Check Fee:
Late fee: There is a limitation on the late fee of 10% of the rental amount. It must be written in the lease.
Returned Payments: These are known by various names, bounced checks, NSF payments, etc., whatever they are called, there is nothing stated specifically in New Mexico law regarding them. However, writing a bad check in New Mexico may be a criminal offense.
Security Deposits:
If the rental agreement is less than one year, there is a limit of an amount equal to one month rent. However, for those leases that are more than one year, the amount must be reasonable. If a tenancy is more than one year, and the amount taken for a security deposit is more than a month, interest must be paid to the tenant annually.
The security deposit must be returned to the tenant within 30 days of lease termination or move-out. Deductions may be made for any unpaid rent or utility costs, and any damages a landlord suffers at the hands of the tenant. (article continues below)
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Maintenance:
The Landlord is responsible for meeting the minimum housing codes that affect the safety and health of the inhabitants.
Right of Entry:
In the event the landlord needs to enter the unit for the purpose of making repairs, securing the property, or showing it to applicants, at least a 24 hour notice should be provided to the tenant.
Notice to End Lease:
To end the tenancy arrangement in New Mexicp
- Lease with an ending date: There is no notice needed, it just ends.
- Month to Month: Landlord or Tenant will send a written 30-day advance notice to the other.
- Week to week lease: Either party needs to provide to the other a seven day notice.
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In our lease agreement it says that if we terminate the property early there is an early termination fee equal to more than two months rent. Is this legal?
In new mexico how can a landlord just end a tenancy
All states have different laws for how to end a lease. New Mexico is no different. Here is a law summary for landlord-tenant regulations in New Mexico. New Mexico Rental Laws Summary
I have a rv that I rent to this young woman with a toddler in New Mexico …300 to move in from 10-3-19 so the other 550 by the 10-28-19 it’s passed due and I’m having trouble moving her stuff out what can I legally do
I like to get this done by this week to get other people to rent it
When I went to court to dispute my case, I was not presented with a Lawyer, Although I had and still have remarkable evidence to clear me! I didn’t get a chance to show nothing, the landlord had a lawyer and I was charged $500 lawyer fee’s and charged with made up lies, as an American, I feel I had no rights? I worked so hard to fix my credit only to have it ruined by a landlord, Please help me, what rights do I have?
Upon giving my written notice to vacate they told me that cleaning the apartment would be charged or taken out of my deposit automatically, even if the apartment was spotless upon moving out, carpet cleaning would be taken out of the deposit as well, and so would painting the apartment, even if it needed 1 coat. I ignored it because I didn’t think they would charge much for it, but now they are trying to retain 100% of my deposit and charge me an additional $200+ for painting the unit even though it was just 1 coat (I didn’t paint or damage any walls and I patched any holes I made).
Is it legal for them to charge me for these items?
In New Mexico,
During covid19,(no I don’t receive the unemployment)
My Property Management is 1)trying and enforcing a rent increase
2) EVICTION
3) I rent a MOBILE HOME lot in a Mobile Home Park
Question who do I call………
Do long term rentals ie; apartments, condo’s etc. pay taxes to the State of New Mexico?