New Mexico Rental Agreement Templates
The New Mexico rental agreements are documents that establish the relationship between a landlord and a tenant who wishes to use real property. These contracts set down terms associated with the rental, including the amount of the rent. The terms must comply with New Mexico’s landlord-tenant laws.
New Mexico Residential Lease Agreement
The New Mexico residential lease agreement (“rental agreement”) formalizes an agreement between a landlord and tenant to rent real property in exchange for a fee. Common terms and conditions included are the length of the occupancy, the amount of the periodic payment, and restrictions on the use of the property.
New Mexico Month-to-Month Rental Agreement
A New Mexico month-to-month lease agreement allows a landlord or tenant to enter into a binding contract where either party can terminate with 30 days’ notice. Like any lease agreement, the parties will agree to a monthly rent amount, utility and services, and any other agreed-upon terms. After negotiating, the landlord should refer to a rental application to make sure the tenant is able to pay rent. Once approved, the landlord and tenant should sign the agreement.
New Mexico Rental Application Form
The New Mexico rental application form is used by landlords to screen for viable tenants to rent properties. Prior to writing up a lease, the tenant fills in their information and pays an application fee. The landlord uses that information to order criminal, credit, and other background reports.
New Mexico Roommate Agreement
A New Mexico month-to-month lease agreement allows a landlord or tenant to enter into a binding contract where either party can terminate with 30 days’ notice. Like any lease agreement, the parties will agree to a monthly rent amount, utility and services, and any other agreed-upon terms. After negotiating, the landlord should refer to a rental application to make sure the tenant is able to pay rent. Once approved, the landlord and tenant should sign the agreement.
New Mexico Commercial Lease Agreement
A New Mexico commercial lease agreement is a document that is used by landlords of commercial real estate to describe the rights and responsibilities of all parties involved in the renting of retail, office, or industrial space. It should be noted that there are three (3) types of commercial real estate lease agreements (described below).
- Triple Net (NNN) – An agreement wherein the tenant pays the monthly rent as well as a portion of the expenses related to the property (taxes, insurance, CAMs).
- Gross – An agreement wherein the tenant pays the monthly rent and the landlord covers all other expenses.
- Modified Gross – An agreement wherein the tenant pays the monthly rent as well as all other expenses related to the property.
Once the type of agreement has been negotiated, and all other provisions described within the document have been discussed and agreed upon, both parties can sign the document binding the other to the terms and conditions therein.
New Mexico Disclosures
Identity (§ 47-8-19) – A Landlord must inform a tenant of all individuals allowed to access the property and an address for any official notices.
Lead-Based Paint Disclosure – Only required if the residence was built before 1978 per federal law.
New Mexico Security Deposits
Maximum (§ 47-8-24) – The landlord may charge up to one (1) month’s rent for tenancies lasting a year or less. If more than a year the landlord can request as much as desired but if it is more than one (1) month’s rent interest must be paid according to Statute 47-8-24.
Returning (§ 47-8-24) – The landlord must pay back the tenant within thirty (30) days of the termination date.
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