Short summaries of the rules that shape New Mexico leases, notices, and deposit papers on LeaseGen.io. Last reviewed 2026-08-15. Not legal advice.
Security deposits
Cap
1× rent
Return clock
30 days after the tenancy ends
A security deposit generally may not exceed one month’s rent (N.M. Stat. Ann. § 47-8-18). A separate pet deposit is generally not allowed on top of that cap. Give a written receipt. Unused deposit plus an itemized list is generally due within 30 days.
Either party may end a month-to-month tenancy with at least 30 days’ written notice (N.M. Stat. Ann. § 47-8-37).
Except in an emergency, the landlord must give at least 24 hours’ notice before entering (N.M. Stat. Ann. § 47-8-24).
A New Mexico rent increase should be in writing. Many landlords use at least the same notice they would use to end a month-to-month tenancy. Either party may end a month-to-month tenancy with at least 30 days’ written notice (N.M. Stat. Ann. § 47-8-37). The lease may require more. Local rent-control rules can cap the amount even when the notice period is met.