Landlord–tenant law in New Mexico

What is distinctive about New Mexico

• Deposits: 30 days. Failure forfeits the right to withhold and the right to assert a counterclaim in any action to recover the deposit.
• Late fees: capped at 10% of the total rent payment for each rental period in default. There is no mandatory grace period.
• Rent increases: 30 days under a statute written for the purpose.

The mistake that costs the most here

Charging a late fee above New Mexico’s cap. The clause is void rather than reduced, and the tenant’s signature does not save it — which tends to surface in an eviction hearing, exactly when the lease needs to hold up.

Where these figures come from

Each rule above was read against the section it cites and the statutory wording is quoted on the dedicated page, so you can check it rather than take our word for it. That matters more than it sounds on this subject: when we read all 51 jurisdictions we found several widely-published figures to be wrong, including a Kentucky deposit deadline that does not exist, a South Dakota one reported as 14 days when the statute says 21, and late-fee caps for nine states that actually come from their self-storage statutes.

Local ordinances can add requirements the state does not, and statutes move — Washington, Connecticut, Nevada, Rhode Island and Maryland have all changed in the last three years. Each figure carries the date we read it.