New Mexico Statutes Annotated, Chapter 47, Article 8 (Owner-Resident Relations Act) requires landlords to provide the name, address, and phone number of the person managing the property. This ensures tenants have an official point of contact.
Landlord Requirements:
Disclose property owner and manager contact details in the lease.
Provide written notice for any contact information changes.
New Mexico Lease Agreement Templates
What’s Included in New Mexico Lease Forms
Lease Template Updated November 12, 2024
A residential lease agreement in New Mexico is a vital legal document that clearly defines rental terms, payment details, property rules, and the responsibilities of both landlords and tenants. It protects the landlord's interests while ensuring compliance with New Mexico laws.
Our form includes:
Parties Identification
Lease Term
Rent Payment Terms
Security Deposit
Maintenance Responsibilities
State-Specific Disclosures
State-Specific Notices
Disclosures and Addenda for New Mexico
These disclosures and addenda ensure compliance with state laws and protect both landlords and tenants.
Disclosure |
|||
|
Landlord's Name and Address
<p>Landlords must provide tenants with the name and address of the person authorized to manage the premises and an owner or agent authorized to act on behalf of the owner. </p>
|
Landlord's Name and Address
|
Landlords must provide tenants with the name and address of the person authorized to manage the premises and an owner or agent authorized to act on behalf of the owner. |
|
|
Lead Paint - Know Presence
<p>Applies to units built before 1978 where the presence of lead paint has been confirmed.</p>
|
Lead Paint - Know Presence
|
Applies to units built before 1978 where the presence of lead paint has been confirmed. |
|
|
Lead Paint - No Know Presence
<p>Applies to units where no evidence of lead paint is present or units built after 1978.</p>
|
Lead Paint - No Know Presence
|
Applies to units where no evidence of lead paint is present or units built after 1978. |
|
|
Condition of the Premises
<p>Landlords are required to maintain rental units in a habitable condition, ensuring compliance with health and safety codes.</p>
|
Condition of the Premises
|
Landlords are required to maintain rental units in a habitable condition, ensuring compliance with health and safety codes. |
|
|
Late/Returned Fees
<p>Late fees must be reasonable and cannot exceed 10% of the total rent for the payment period. Landlords must also provide notice to tenants when a late fee is assessed.</p>
|
Late/Returned Fees
|
Late fees must be reasonable and cannot exceed 10% of the total rent for the payment period. Landlords must also provide notice to tenants when a late fee is assessed. |
|
|
Mold Disclosure
<p>New Mexico law does not require landlords to disclose the presence of mold. Nonetheless, maintaining the property to prevent mold growth falls under the landlord's duty to provide habitable premises.</p>
|
Mold Disclosure
|
New Mexico law does not require landlords to disclose the presence of mold. Nonetheless, maintaining the property to prevent mold growth falls under the landlord's duty to provide habitable premises. |
|
|
Non-Refundable Fees
<p>Landlords must clearly disclose any non-refundable fees in the lease agreement to enforce them</p>
|
Non-Refundable Fees
|
Landlords must clearly disclose any non-refundable fees in the lease agreement to enforce them |
|
|
Smoking
<p>Landlords have the right to prohibit or restrict smoking in their rental properties. It's advisable to include a clear smoking policy within the lease agreement, specifying any restrictions or designated smoking areas.</p>
|
Smoking
|
Landlords have the right to prohibit or restrict smoking in their rental properties. It's advisable to include a clear smoking policy within the lease agreement, specifying any restrictions or designated smoking areas. |
|
|
Security Deposit Disclosure
<p>For leases shorter than one year, landlords may charge a security deposit up to one month's rent. If the deposit exceeds one month's rent, landlords must pay annual interest on the excess amount. Deposits must be returned within 30 days after lease termination, accompanied by an itemized list of deductions, if any.</p>
|
Security Deposit Disclosure
|
For leases shorter than one year, landlords may charge a security deposit up to one month's rent. If the deposit exceeds one month's rent, landlords must pay annual interest on the excess amount. Deposits must be returned within 30 days after lease termination, accompanied by an itemized list of deductions, if any. |
|
|
Flood Hazard Disclosure
<p>New Mexico law does not mandate landlords to disclose if a property is in a flood zone; however, it's considered good practice to inform tenants of potential flood risks.<br><br></p>
|
Flood Hazard Disclosure
|
New Mexico law does not mandate landlords to disclose if a property is in a flood zone; however, it's considered good practice to inform tenants of potential flood risks. |
|
|
Radon Disclosure
<p>New Mexico does not require radon disclosures.<br>However, if a landlord is aware of elevated radon levels, it is prudent to inform tenants to ensure transparency and safety.</p>
|
Radon Disclosure
|
New Mexico does not require radon disclosures. |
|
|
Bed Bugs Disclosure
<p>While New Mexico law does not explicitly require landlords to disclose bed bug infestations, they are obligated to maintain rental properties free from pests, including bed bugs.</p>
|
Bed Bugs Disclosure
|
While New Mexico law does not explicitly require landlords to disclose bed bug infestations, they are obligated to maintain rental properties free from pests, including bed bugs. |
|
Addenda |
|||
|
Pet Agreement
<p>Outline rules regarding pet types, sizes, behavior, and any associated fees or deposits.</p>
|
Pet Agreement
|
Outline rules regarding pet types, sizes, behavior, and any associated fees or deposits. |
|
|
Medical Marijuana
<p>New Mexico law allows the use of medical marijuana; however, landlords can set policies regarding its use on their property, including prohibiting smoking.</p>
|
Medical Marijuana
|
New Mexico law allows the use of medical marijuana; however, landlords can set policies regarding its use on their property, including prohibiting smoking. |
|
|
Shared Utilities
<p>Describe how utility charges are divided among tenants to ensure clarity on financial responsibilities.</p>
|
Shared Utilities
|
Describe how utility charges are divided among tenants to ensure clarity on financial responsibilities. |
|
|
Carbon Monoxide Alarm
<p>New Mexico law does not require the installation of carbon monoxide detectors in rental properties.</p>
|
Carbon Monoxide Alarm
|
New Mexico law does not require the installation of carbon monoxide detectors in rental properties. |
|
Landlord’s Name and Address
Applicable to all New Mexico rentals.Lead-Based Paint Disclosure
Applicable to New Mexico rentals built before 1978. Landlords in New Mexico are obligated to adhere to the federal **Residential Lead-Based Paint Hazard Reduction Act of 1992 (Title X). This involves disclosing any known lead-based paint hazards in properties constructed before 1978, ensuring tenants are aware of potential health risks associated with lead exposure.
Landlord Requirements:
Include a lead-based paint disclosure form with the lease agreement.
Provide tenants with the EPA-approved pamphlet on lead hazards.
Disclose any known information regarding lead-based paint or related hazards in the property.
Condition of the Premises
Guidelines for Maintaining Rental Property StandardsThe lease must document the property’s condition to protect both parties, under New Mexico Statutes § 47-8-20. This ensures clarity on pre-existing issues and responsibilities during and after the lease.
Landlord Requirements:
Inspect the premises before tenant move-in.
Provide a move-in condition checklist signed by both parties.
Ensure all required repairs and maintenance are completed before occupancy.
Explore Lease Agreements by State
Explore lease agreement forms from other states to ensure compliance and simplify rentals.