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.

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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

  1. Lease with an ending date: There is no notice needed, it just ends.
  2. Month to Month: Landlord or Tenant will send a written 30-day advance notice to the other.
  3. Week to week lease: Either party needs to provide to the other a seven day notice.

 

Eviction:

Did your tenant fail to pay rent? In order to get the eviction ball rolling, the landlord will need to first send a 3-day termination notice once the rent is late. If your tenant pays it in full before the end of that 3 days, no court. If not, landlord will file paperwork in court to start a legal eviction.

For violations, other than non-payment, the notice time is 7 days giving the tenant a chance to fix or stop the behavior, but if the tenant does the same thing again within 6 months of the first offense, a 7 day notice to quit is given. This means that the tenant can no longer fix the issue. It is move-out or be legally forced to move out.

 

Questions? Ask an Attorney!

Have questions about Michigan’s landlord-tenant laws?  We have you covered.  Ask in the box below, to have your questions answered by living, flesh-and-blood attorneys!

DISCLAIMER: Wellspring Financial LLC DBA SparkRental.com is for informational purposes only! Any information, legal or otherwise is provided “as is” without any representations, truth, accuracy, exactness or warranties, expressed or implied. Any data, form, or information provided shall NOT be construed or taken to be legal advice. You must NOT rely on any data, form, or information on this website as an alternative to obtaining sound, legal advice from a licensed or professional legal service provider.

 

 

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