New Mexico is surely a pronounced US state for families to live in. This state embraces a long history along with a promising future for its population. If you are searching for residential property in its capital city ‘Santa Fe’ or desert metropolis of Albuquerque, you can find a property that will suit your taste.
If you are the one looking for a rental property in New Mexico, you must know about the New Mexico rental agreement. Key elements in a New Mexico rental lease agreement include:
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- Landlord Disclosure and Late Fees
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- Multiple Disclosures and Termination Rules
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- Lawsuits and Withhold Rent Right
What Is a New Mexico Lease Agreement?
The New Mexico residential lease agreement, also known as rental agreement NM, is a legal contract between landlord and tenant in exchange for rent.
It also entails specific terms and conditions relating to the length of occupancy, amount of monthly rent, restrictions on the use of the rental property. NM rental agreement is negotiated between landlord and tenant for leasing either residential or commercial property.
Prior to writing the form, both parties discuss rent and other terms. The landlord must verify the personal information and credential history of tenants via the rental application.
When signing the agreement, the tenant is recommended to bring a security check deposit with them. Upon handing check, the landlord is required to provide the tenant with access to the rental premise.
Rental agreement form New Mexico has a full duration of 1 year. However, longer leases are also permitted in New Mexico, but they should be in writing. Once the NM lease agreement is signed by both parties, it becomes enforceable.
Use Our New Mexico Rental Lease Agreement Template Now!
Are you facing difficulty deciding on the terms while signing a rental lease agreement with your tenant over your New Mexico property? Use our simple, effective, and coherent New Mexico Rental Lease Agreement template to define the obligations and other necessary clauses for property rental and lease.
Download a FREE Copy of the template by clicking below.
New Mexico Landlord and Tenant Laws
New Mexico landlord and tenant must know and follow the key laws:
Landlord Disclosures
Under federal law in New Mexico, landlords must disclose information to tenants about their identity. The landlord should also disclose the identity of any authorized person who can act on behalf of the landlord, non-refundable fees, tenant’s right to move-out, etc.
Limit and Return of Security Deposits
NM laws limit landlords on how much they can charge security deposits (1-month rent) from tenants and when it should be returned (within 1 month after tenant moves).
Small Claims Lawsuits
Tenants are allowed to sue their landlord in Magistrate court or Metropolitan court to return their security deposits of $10,000.
Late Fees
NM state laws also regulate issues related to rent such as late fees, amount of notice that the landlord must give when raising the rent. In addition, the landlord must tell tenants how much time they have to pay their overdue rents.
Right to Withhold Rent
If the landlord fails to make any important repair like a broken heater, the tenant has the right to withhold rental payment.
Rules for Termination and Eviction
New Mexico State also specifies how and when the landlord can terminate the tenancy period. For instance, if the tenant repeatedly violates the terms of the NM rental agreement, the landlord can give them unconditional quit notice within 6 months.
This notice gives tenants only 7 days to move out of the rental premise.
Access to Rental Property
NM property owners must provide 24 hours prior notice before entering the rental premise of the occupant.
New Mexico Lease Disclosures & Addendums
Lease disclosures and addendums in rental agreement New Mexico are mentioned as follows:
Landlord’s Name & Address
This disclosure is applicable to all NM rental units. Landlords must provide their names and address so that tenants can send them any demand or future legal notices properly. Another person who will act on behalf of the landlord must also be disclosed in rental agreement NM.
Late Fee Disclosure
This is applicable for any rental unit that may charge late fees. In New Mexico, landlords must disclose information about late fees and the amount of due rent. However, the late fee should not exceed over 10% of overdue rent.
Lead-Based Paint Disclosure
Federal laws of New Mexico require landlords to disclose information to tenants about the dangers of lead-based paint. Rental property that was built before 1978 is at high risk of dangers posed by lead-based paint.
Landlords should fill in and attach a lead-based paint disclosure form to the NM lease agreement. Moreover, an EPA-approved pamphlet (Environmental Protection Agency) should also be provided to the tenant that outlines likely dangers.
Optional Disclosures & Addendums
In rental agreement New Mexico, landlords may add various optional disclosures and addendums to reduce future legal liabilities and rent-related issues.
Disclosures and addendums which are not required by Mexico State laws are as follow:
Medical Marijuana Use
The landlord should state where on a rental property, the use of medical marijuana is allowed. Under New Mexico laws, marijuana usage can be restricted to non-smoking methods. Tenants can use smoke without causing interference with other occupants.
Move-in Checklist
The landlord should provide the tenant with an itemized list of property damages before they move-in. This checklist will hold tenants responsible for causing any serious damage to the rental property during the lease term.
Shared Utilities Arrangements
If the utilities are to be shared on the rental unit, the landlord should disclose the specifics of how utilities will be shared and how the bill will be calculated.
Bed Bug Disclosure
If there is any infestation history on the rental unit, the landlord should establish an understanding of the present status of bed bugs on rental premises. The landlord should also provide tenants with information on a protocol to handle the future infestation.
Asbestos Disclosure
Buildings that were built before 1981 are at high risk of asbestos. Therefore, any prior knowledge regarding the presence of asbestos on rental should be disclosed by the landlord in rental agreement NM.
Mold Disclosure
The landlord should also disclose information about the current status of mold on rental property. This disclosure will protect the landlord from future liabilities.
Use Our New Mexico Rental Lease Agreement Template Now!
Are you facing difficulty deciding on the terms while signing a rental lease agreement with your tenant over your New Mexico property? Use our simple, effective, and coherent New Mexico Rental Lease Agreement template to define the obligations and other necessary clauses for property rental and lease.
Download a FREE Copy of the template by clicking below.
Conclusion
Overall, New Mexico is a great place for families to live in. If your family is planning to rent a residential property in New Mexico, make sure you have a thorough knowledge of the NM lease agreement.
If you have decided to lease a property, you can find a great template for the New Mexico rental lease agreement on our website CocoSign. You can also check out other different templates for legal agreements.
DOCUMENT PREVIEW
NEW MEXICO RENTAL LEASE AGREEMENT
I. THE PARTIES. This Residential Lease Agreement (“Agreement”) made this ________________, 20____ is between:
Landlord: _______________________ with a mailing address of _______________________, City of _______________________, State of _______________________ ("Landlord"), AND
Tenant(s): ______________________________________________ (“Tenant”).
Landlord and Tenant are each referred to herein as a “Party” and, collectively, as the "Parties."
NOW, THEREFORE, FOR AND IN CONSIDERATION of the mutual promises and agreements contained herein, the Tenant agrees to lease the Premises from the Landlord under the following terms and conditions:
II. LEASE TYPE. This Agreement shall be considered a: (check one)
☐ - Fixed Lease. The Tenant shall be allowed to occupy the Premises starting on ________________, 20____ and end on ________________, 20____ (“Lease Term”). At the end of the Lease Term and no renewal is made, the Tenant: (check one)
☐ - May continue to lease the Premises under the same terms of this Agreement under a month-to-month arrangement.
☐ - Must vacate the Premises.
☐ - Month-to-Month Lease. The Tenant shall be allowed to occupy the Premises on a month-to-month arrangement starting on ________________, 20____ and ending upon notice of ____ days from either Party to the other Party (“Lease Term”).
III. OCCUPANT(S). The Premises is to be occupied strictly as a residential dwelling with the following individual(s) in addition to the Tenant: (check one)
☐ - ______________________________________________ (“Occupant(s)”)
☐ - There are no Occupant(s).
IV. THE PROPERTY. The Landlord agrees to lease the described property below to the Tenant: (enter the property information)
a.) Mailing Address: ________________, City of ________________, State of New Mexico.
b.) Residence Type: ☐ Apartment ☐ House ☐ Condo ☐ Other: ________________
c.) Bedroom(s): ____
d.) Bathroom(s): ____
The aforementioned property shall be leased wholly by the Tenant (“Premises”).
V. PURPOSE. The Tenant and Occupant(s) may only use the Premises as: (check one)
☐ - A residential dwelling only.
☐ - A residential dwelling and: _____________________________________________.
VI. FURNISHINGS. The Premises is: (check one)
☐ - To be furnished with the following items: __________________________________
_____________________________________________________________________.
☐ - Not furnished.
VII. APPLIANCES. The Landlord shall: (check one)
☐ - Provide the following appliances: _______________________________________.
☐ - Not provide any appliances.
VIII. RENT. The Tenant shall pay the Landlord, in equal monthly installments, $________________ ("Rent"). The Rent shall be due on the ____ of every month (“Due Date”) and paid under the following instructions: _______________________________.
IX. NON-SUFFICIENT FUNDS (NSF CHECKS). If the Tenant pays the Rent with a check that is not honored due to insufficient funds (NSF): (check one)
☐ - There shall be a fee of $____ per incident.
☐ - There shall be no fee.
X. LATE FEE. If Rent is not paid on the Due Date: (check one)
☐ - There shall be a penalty of $____ due as ☐ One (1) Time Payment ☐ Every Day Rent is Late. Rent is considered late when it has not been paid within ____ day(s) after the Due Date.
☐ - There shall be No Late Fee if Rent is late.
XI. FIRST (1ST) MONTH'S RENT. The Tenant is required to pay the first (1st) month's rent: (check one)
☐ - Upon the execution of this Agreement.
☐ - Upon the first (1st) day of the Lease Term.
XII. PRE-PAYMENT. The Tenant shall: (check one)
☐ - Pre-Pay Rent in the amount of $________________ for the term starting on ________________, 20____ and ending on ________________, 20____. The Pre-Payment of Rent shall be due upon the execution of this Agreement.
☐ - Not be required to Pre-Pay Rent.
XIII. PRORATION PERIOD. The Tenant: (check one)
☐ - Shall take possession of the Premises before the start of the Lease Term on ________________, 20____ and agrees to pay $________________ for the proration period. The proration rate is calculated by the monthly Rent on a daily basis which shall be paid by the Tenant upon the execution of this Agreement.
☐ - Shall not be taking possession of the Premises before the Lease Term.
XIV. SECURITY DEPOSIT. As part of this Agreement: (check one)
☐ - The Landlord requires a payment in the amount of $________________ (“Security Deposit”) for the faithful performance of the Tenant under the terms and conditions of this Agreement. Payment of the Security Deposit is required by the Tenant upon the execution of this Agreement. The Security Deposit shall be returned to the Tenant within ____ days after the end of the Lease Term less any itemized deductions. This Security Deposit shall not be credited towards any Rent unless the Landlord gives their written consent.
☐ - The Landlord does not require a Security Deposit as part of this Agreement.
XV. MOVE-IN INSPECTION. Before, at the time of the Tenant accepting possession, or shortly thereafter, the Landlord and Tenant: (check one)
☐ - Agree to inspect the Premises and write any present damages or needed repairs on a move-in checklist.
☐ - Shall not inspect the Premises or complete a move-in checklist.
XVI. PARKING. The Landlord: (check one)
☐ - Shall provide ____ parking space(s) to the Tenant for a fee of $_____ to be paid ☐ at the execution of this Agreement ☐ on a monthly basis in addition to the rent. The parking space(s) are described as: _________________________________________.
☐ - Shall NOT provide parking.
XVII. SALE OF PROPERTY
. If the Premises is sold, the Tenant is to be notified of the new Owner, and if there is a new Manager, their contact details for repairs and maintenance shall be forwarded. If the Premises is conveyed to another party, the new owner: (check one)
☐ - Has the right to terminate this Agreement by providing ___ days’ notice to the Tenant.
☐ - Does not have the right to terminate this Agreement.
XVIII. UTILITIES. The Landlord shall provide the following utilities and services to the Tenant: _______________________________________________________________
_____________________________________________________________________.
Any other utilities or services not mentioned will be the responsibility of the Tenant.
XIX. EARLY TERMINATION. The Tenant: (check one)
☐ - Shall have the right to terminate this Agreement at any time by providing at least ___ days’ written notice to the Landlord along with an early termination fee of $___________ (US Dollars). During the notice period for termination the Tenant will remain responsible for the payment of rent.
☐ - Shall not have the right to terminate this Agreement.
XX. SMOKING POLICY. Smoking on the Premises is: (check one)
☐ - Permitted ONLY in the following areas: ___________________________________
☐ - Prohibited on the Premises and Common Areas.
XXI. PETS. The Tenant: (check one)
☐ - Shall have the right to have ___ pet(s) on the Premises consisting of __________________________________________________ [Types of Pets Allowed] that are not to weigh over ____ pounds. For the right to have pet(s) on the Premises the Landlord shall charge a fee of $___________ that is ☐ non-refundable ☐ refundable unless there are damages related to the pet. The Tenant is responsible for all damage that any pet causes, regardless of ownership of said pet and agrees to restore the Premises to its original condition at their expense.
☐ - Shall not have the right to have pets on the Premises or in the common areas.
XXII. WATERBEDS. The Tenant: (check one)
☐ - Shall have the right to use a waterbed on the Premises.
☐ - Shall not have the right to use a waterbed on the Premises.
XXIII. NOTICES. Any notice to be sent by the Landlord or the Tenant to each other shall use the following addresses:
Landlord's / Agent's Address:
________________________________________________________________.
Tenant's Mailing Address: (check one)
☐ - The Premises.
☐ - Other. _______________________________________________________.
XXIV. AGENT/MANAGER. (check one)
☐ - The Landlord does have a manager on the Premises that can be contacted for any maintenance or repair at:
Name: _______________________
Telephone (____) _____-______ E-Mail _____________________________
☐ - The Landlord does not have a manager on the Premises although the Landlord can be contacted for any maintenance or repair at:
Telephone (____) _____-______ E-Mail _____________________________
XXV. POSSESSION. Tenant has examined the condition of the Premises and by taking possession acknowledges that they have accepted the Premises in good order and in its current condition except as herein otherwise stated. Failure of the Landlord to deliver possession of the Premises at the start of the Lease Term to the Tenant shall terminate this Agreement at the option of the Tenant. Furthermore, under such failure to deliver possession by the Landlord, and if the Tenant cancels this Agreement, the Security Deposit (if any) shall be returned to the Tenant along with any other pre-paid rent, fees, including if the Tenant paid a fee during the application process before the execution of this Agreement.
XXVI. ACCESS. Upon the beginning of the Proration Period or the start of the Lease Term, whichever is earlier, the Landlord agrees to give access to the Tenant in the form of keys, fobs, cards, or any type of keyless security entry as needed to enter the common areas and the Premises. Duplicate copies of the access provided may only be authorized under the consent of the Landlord and, if any replacements are needed, the Landlord may provide them for a fee. At the end of this Agreement all access provided to the Tenant shall be returned to the Landlord or a fee will be charged to the Tenant or the fee will be subtracted from the Security Deposit.
XXVII. SUBLETTING. The Tenant shall not be able to sublet the Premises without the written consent from the Landlord. The consent by the Landlord to one subtenant shall not be deemed to be consent to any subsequent subtenant.
XXVIII. ABANDONMENT. If the Tenant vacates or abandons the Premises for a time-period that is the minimum set by State law or seven (7) days, whichever is less, the Landlord shall have the right to terminate this Agreement immediately and remove all belongings including any personal property off of the Premises. If the Tenant vacates or abandons the Premises, the Landlord shall immediately have the right to terminate this Agreement.
XXIX. ASSIGNMENT. Tenant shall not assign this Lease without the prior written consent of the Landlord. The consent by the Landlord to one assignment shall not be deemed to be consent to any subsequent assignment.
XXX. RIGHT OF ENTRY. The Landlord shall have the right to enter the Premises during normal working hours by providing at least twenty-four (24) hours notice in order for inspection, make necessary repairs, alterations or improvements, to supply services as agreed or for any reasonable purpose. The Landlord may exhibit the Premises to prospective purchasers, mortgagees, or lessees upon reasonable notice.
XXXI. MAINTENANCE, REPAIRS, OR ALTERATIONS. The Tenant shall, at their own expense and at all times, maintain premises in a clean and sanitary manner, and shall surrender the same at termination hereof, in as good condition as received, normal wear and tear excepted. The Tenant may not make any alterations to the leased premises without the consent in writing of the Landlord. The Landlord shall be responsible for repairs to the interior and exterior of the building. If the Premises includes a washer, dryer, freezer, dehumidifier unit and/or air conditioning unit, the Landlord makes no warranty as to the repair or replacement of units if one or all shall fail to operate. The Landlord will place fresh batteries in all battery-operated smoke detectors when the Tenant moves into the premises. After the initial placement of the fresh batteries it is the responsibility of the Tenant to replace batteries when needed. A monthly "cursory" inspection may be required for all fire extinguishers to make sure they are fully charged.
XXXII. NOISE/WASTE. The Tenant agrees not to commit waste on the premises, maintain, or permit to be maintained, a nuisance thereon, or use, or permit the premises to be used, in an unlawful manner. The Tenant further agrees to abide by any and all local, county, and State noise ordinances.
XXXIII. GUESTS. There shall be no other persons living on the Premises other than the Tenant and any Occupant(s). Guests of the Tenant are allowed for periods not lasting for more than 48 hours unless otherwise approved by the Landlord in writing.
XXXIV. COMPLIANCE WITH LAW. The Tenant agrees that during the term of the Agreement, to promptly comply with any present and future laws, ordinances, orders, rules, regulations, and requirements of the Federal, State, County, City, and Municipal government or any of their departments, bureaus, boards, commissions and officials thereof with respect to the premises, or the use or occupancy thereof, whether said compliance shall be ordered or directed to or against the Tenant, the Landlord, or both.
XXXV. DEFAULT. If the Tenant fails to comply with any of the financial or material provisions of this Agreement, or of any present rules and regulations or any that may be hereafter prescribed by the Landlord, or materially fails to comply with any duties imposed on the Tenant by statute or State laws, within the time period after delivery of written notice by the Landlord specifying the non-compliance and indicating the intention of the Landlord to terminate the Agreement by reason thereof, the Landlord may terminate this Agreement. If the Tenant fails to pay rent when due and the default continues for the time-period specified in the written notice thereafter, the Landlord may, at their option, declare the entire balance (compiling all months applicable to this Agreement) of rent payable hereunder to be immediately due and payable and may exercise any and all rights and remedies available to the Landlord at law or in equity and may immediately terminate this Agreement.
The Tenant will be in default if: (a) Tenant does not pay rent or other amounts that are owed; (b) Tenant, their guests, or the Occupant(s) violate this Agreement, rules, or fire, safety, health, or criminal laws, regardless of whether arrest or conviction occurs; (c) Tenant abandons the Premises; (d) Tenant gives incorrect or false information in the rental application; (e) Tenant, or any Occupant(s) is arrested, convicted, or given deferred adjudication for a criminal offense involving actual or potential physical harm to a person, or involving possession, manufacture, or delivery of a controlled substance, marijuana, or drug paraphernalia under state statute; (f) any illegal drugs or paraphernalia are found in the Premises or on the person of the Tenant, guests, or Occupant(s) while on the Premises and/or; (g) as otherwise allowed by law.
XXXVI. MULTIPLE TENANT OR OCCUPANT(S). Each individual that is considered a Tenant is jointly and individually liable for all of this Agreement's obligations, including but not limited to rent monies. If any Tenant, guest, or Occupant(s) violates this Agreement, the Tenant is considered to have violated this Agreement. Landlord’s requests and notices to the Tenant or any of the Occupant(s) of legal age constitutes notice to the Tenant. Notices and requests from the Tenant or any one of the Occupant(s) (including repair requests and entry permissions) constitutes notice from the Tenant. In eviction suits, the Tenant is considered the agent of the Premise for the service of process.
XXXVII. DISPUTES. If a dispute arises during or after the term of this Agreement between the Landlord and Tenant, they shall agree to hold negotiations amongst themselves, in "good faith", before any litigation.
XXXVIII. SEVERABILITY. If any provision of this Agreement or the application thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law.
XXXIX. SURRENDER OF PREMISES
. The Tenant has surrendered the Premises when (a) the move-out date has passed and no one is living in the Premise within the Landlord’s reasonable judgment; or (b) Access to the Premise have been turned in to Landlord – whichever comes first. Upon the expiration of the term hereof, the Tenant shall surrender the Premise in better or equal condition as it were at the commencement of this Agreement, reasonable use, wear and tear thereof, and damages by the elements excepted.
XL. RETALIATION. The Landlord is prohibited from making any type of retaliatory acts against the Tenant including but not limited to restricting access to the Premises, decreasing or cancelling services or utilities, failure to repair appliances or fixtures, or any other type of act that could be considered unjustified.
XLI. WAIVER. A Waiver by the Landlord for a breach of any covenant or duty by the Tenant, under this Agreement is not a waiver for a breach of any other covenant or duty by the Tenant, or of any subsequent breach of the same covenant or duty. No provision of this Agreement shall be considered waived unless such a waiver shall be expressed in writing as a formal amendment to this Agreement and executed by the Tenant and Landlord.
XLII. EQUAL HOUSING. If the Tenant possesses any mental or physical impairment, the Landlord shall provide reasonable modifications to the Premises unless the modifications would be too difficult or expensive for the Landlord to provide. Any impairment(s) of the Tenant are encouraged to be provided and presented to the Landlord in writing in order to seek the most appropriate route for providing the modifications to the Premises.
XLIII. HAZARDOUS MATERIALS. The Tenant agrees to not possess any type of personal property that could be considered a fire hazard such as a substance having flammable or explosive characteristics on the Premises. Items that are prohibited to be brought into the Premises, other than for everyday cooking or the need of an appliance, includes but is not limited to gas (compressed), gasoline, fuel, propane, kerosene, motor oil, fireworks, or any other related content in the form of a liquid, solid, or gas.
XLIV. INDEMNIFICATION. The Landlord shall not be liable for any damage or injury to the Tenant, or any other person, or to any property, occurring on the Premises, or any part thereof, or in common areas thereof, and the Tenant agrees to hold the Landlord harmless from any claims or damages unless caused solely by the Landlord's negligence. It is recommended that renter's insurance be purchased at the Tenant's expense.
XLV. COVENANTS. The covenants and conditions herein contained shall apply to and bind the heirs, legal representatives, and assigns of the parties hereto, and all covenants are to be construed as conditions of this Agreement.
XLVI. PREMISES DEEMED UNINHABITABLE. If the Premises is deemed uninhabitable due to damage beyond reasonable repair the Tenant will be able to terminate this Agreement by written notice to the Landlord. If said damage was due to the negligence of the Tenant, the Tenant shall be liable to the Landlord for all repairs and for the loss of income due to restoring the Premises back to a livable condition in addition to any other losses that can be proved by the Landlord.
XLVII. LEAD PAINT. (check one)
Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards
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Lead Warning Statement
Housing build before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can pose health hazards if not managed properly. Lead exposure is especially harmful to young children and pregnant women. Before renting pre-1978 housing, landlords must disclose the presence of known lead-based paint and /or lead-based paint hazards in the dwelling. Tenants must also receive a federally approved pamphlet on lead poisoning prevention.
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Lessor’s Disclosure
(a) Presence of lead-based paint and/or lead-based paint hazards (check one below):
☐ - Known lead-based paint and/or lead-based paint hazards are present in the housing (explain): _______________________________________.
☐ - Landlord has no knowledge of lead-based paint and/or lead-based paint hazards in the housing.
(b) Records and reports available to the landlord (check one below)
☐ - Landlord has provided the tenant with all available records and reports pertaining to lead-based paint and/or lead-based paint hazards in the housing (list documents below).
☐ - Landlord has no reports or records pertaining to lead-based paint and/or lead-based paint hazards in the housing.
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Tenant’s Acknowledgement
☐ - Tenant has received copies of all information listed above.
☐ - Tenant has received the pamphlet “Protect Your Family From Lead in Your Home”.
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Broker’s Acknowledgement
☐ - Broker has informed the tenant of the tenant’s obligations under 42 USC 4852(d) and is aware of his/her responsibility to ensure compliance.
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Certification of Accuracy
The following parties have reviewed the information above and certify, to the best of their knowledge, that the information they have provided is true and accurate.
Landlord's Signature ___________________________ Date: _____________
Print Name: __________________
Tenant’s Signature ___________________________ Date: _____________
Print Name: __________________
Tenant’s Signature ___________________________ Date: _____________
Print Name: __________________
Agent’s Signature ___________________________ Date: _____________
Print Name: __________________
