How to become a landlord in New Mexico

At or before the start of the residency, disclose in writing the name, address and telephone number of the person who manages the premises and of an owner or agent for service of process and notices, and keep them current. Give each tenant a written rental agreement before occupancy; rules bind the tenant only if copies were given at signing. A published listing must itemize the base rent and every fee or charge the tenant will pay during the residency (NMSA 1978 § 47-8-19; NMSA 1978 § 47-8-19.1; NMSA 1978 § 47-8-20(G); NMSA 1978 § 47-8-23(F)).

• Without the owner and manager disclosure, the tenant need not give you the notices the Act requires (NMSA 1978 § 47-8-19(D)).
• Rules bind the tenant only if they meet the Act's fairness tests and the tenant got copies at signing; later rules need reasonable notice and may not substantially change the bargain (NMSA 1978 § 47-8-23).
• You are not liable when a third-party website fails to show the costs you gave it (NMSA 1978 § 47-8-19.1).
• Screening fees need written or digital notice and the applicant's written agreement before they are charged (NMSA 1978 § 47-8-19.2(A)(1)).See Application and screening fees on the New Mexico page
• Federal law adds a lead paint disclosure for older homes; it was not read for this page (NMSA 1978 §§ 47-8-1 to 47-8-52).

In writing, at or before the start of the residency, give the tenant the name, address and telephone number of the person authorized to manage the premises, and of an owner or person authorized to accept service of process and notices for the owner. Keep the information current; the duty binds any later owner or manager (NMSA 1978 § 47-8-19).

• The named manager becomes the owner's agent for the owner's duties, and the named agent for service and notices becomes each owner's agent for that purpose (NMSA 1978 § 47-8-19(C)).
• If you do not comply, the tenant is excused from giving you the notices the Act requires (NMSA 1978 § 47-8-19(D)).
• When the owner's interest ends, for example by sale, the owner is released for later events once the tenant gets written notice, and the tenant then pays rent to the successor (NMSA 1978 § 47-8-21(A)).

The Owner-Resident Relations Act requires no flood disclosure. Other New Mexico law was not checked for one (NMSA 1978 §§ 47-8-1 to 47-8-52).

• If fire or casualty substantially impairs the home, the tenant may move out and end the agreement or stay in the usable part at reduced rent (NMSA 1978 § 47-8-31).See Tenant repair remedies on the New Mexico page

The Owner-Resident Relations Act has no section on smoke or carbon monoxide alarms. You must substantially comply with minimum housing codes that affect health and safety; the state and local fire and building codes that set alarm rules were not read for this page (NMSA 1978 §§ 47-8-1 to 47-8-52; NMSA 1978 § 47-8-20(A)(1)).

The Owner-Resident Relations Act has no section on locks, rekeying or security devices. Your general duty is to keep the premises safe and follow applicable housing codes; local codes were not read for this page (NMSA 1978 §§ 47-8-1 to 47-8-52; NMSA 1978 § 47-8-20(A)(1), (2)).

• Changing or adding locks to keep a tenant out is an unlawful lockout (NMSA 1978 § 47-8-36(A)(2)).See Lockouts and utility shutoffs on the New Mexico page

You may ask for a reasonable deposit to cover damage the tenant causes. Under a rental agreement of less than one year, you may not demand or receive a deposit of more than one month's rent. Under an annual rental agreement a larger deposit is allowed, but a deposit over one month's rent earns the tenant interest each year (NMSA 1978 § 47-8-18(A)).

• The Act defines a deposit as money or an instrument the tenant hands over as a pledge to abide by the rental agreement, and sets no separate rule for pet deposits (NMSA 1978 § 47-8-3(F)).
• The deposit section does not cover last month's rent paid in advance, and a damage deposit may not be treated as prepaid rent (NMSA 1978 § 47-8-18(B)).
• Unless you and the tenant agree in writing, a rent payment may not be applied to deposits or damages (NMSA 1978 § 47-8-15(G)).
• For the yearly interest on a larger deposit under an annual agreement, see deposit interest (NMSA 1978 § 47-8-18(A)(1)).See Deposit interest and accounts on the New Mexico page

Under an annual rental agreement, if you demand or receive a deposit of more than one month's rent, you pay the tenant interest on the deposit every year. The rate is the passbook interest the federal home loan bank board permitted savings and loan associations in New Mexico; the statute states no figure. The Act does not require a separate or trust account for deposits (NMSA 1978 § 47-8-18(A)(1); NMSA 1978 §§ 47-8-1 to 47-8-52).

• A rental agreement of less than one year may not carry a deposit over one month's rent at all (NMSA 1978 § 47-8-18(A)(2)).See Security deposit limit on the New Mexico page

The Owner-Resident Relations Act does not require a move-in checklist or inspection report. At move-out the tenant must leave the home as clean as it was at move-in, apart from ordinary wear and tear, and no part of the deposit may be kept for normal wear and tear (NMSA 1978 §§ 47-8-1 to 47-8-52; NMSA 1978 § 47-8-22(B); NMSA 1978 § 47-8-18(C)).

• The tenant must keep the part of the premises they use as clean and safe as its condition permits (NMSA 1978 § 47-8-22(B)).
• At move-in you must deliver possession in line with the rental agreement and your repair duties. If you do not, rent abates in full until you do, and the tenant may end the agreement by written notice (NMSA 1978 § 47-8-26(A), (B)).

You may charge an applicant a one-time screening fee of no more than $50 to cover the cost of a credit report, reference check or screening service, and no other fee to process an application. Before charging it, give written or digital notice of the fee, get the applicant's written agreement to pay, and give a receipt once it is paid (NMSA 1978 § 47-8-19.2; NMSA 1978 § 47-8-19.3).

• Do not charge the fee when you know or should know the home is not available now or will not be at the start of the residency (NMSA 1978 § 47-8-19.2(A)(2)).
• Hold a card payment, or wait to deposit cash or a check, until every earlier applicant has been screened and turned down or offered the home and declined (NMSA 1978 § 47-8-19.2(A)(4)).
• Return the fee within 30 calendar days if an earlier applicant is offered the home and agrees to rent it, or if you do not obtain a credit report, check references, use a screening service or process the application. Return it by certified mail, destroy an uncashed check on request, or make it available for pickup (NMSA 1978 § 47-8-19.2(B), (C)).
• Do not charge an applicant a second screening fee if you screened them within 90 calendar days of the application for any property under the same ownership, and give the applicant a copy of any report used to screen them. Keep that same-owner, 90-day fee restriction distinct from a blanket duty to accept any applicant-supplied portable report. Confirm the applicable reuse requirements and actual report before ordering or charging again (NMSA 1978 § 47-8-19.3; Laws 2025, chapter 122: final SB 267, section 4).
• An unauthorized screening fee makes you liable for $250 and for returning every fee the applicant paid (NMSA 1978 § 47-8-48(B)).
• An applicant includes someone who agrees to act as a guarantor or cosigner (NMSA 1978 § 47-8-3(D)).
• For a New Mexico brokerage managing property for others, NMAC 16.61.24.15 requires property-management records to be accessible from the registered brokerage office. Keep the previous six years during a management agreement and retain records for six years after that agreement ends. The qualifying broker is responsible for maintenance and safekeeping. This is a brokerage management rule, not a universal six-year disposal date for every private owner or application. Check other retention duties and any dispute before discarding records (NMAC 16.61.24.6 and 16.61.24.15).