General info, not legal advice. Details

New Mexico Security deposit limit

Last reviewed 2026-10-23

How much can a landlord charge for a security deposit in New Mexico?

Leases under one year: no more than one month's rent. Annual leases: more is allowed, but the owner must pay the tenant annual interest on a deposit over one month's rent.

Verified Source: NMSA 1978, § 47-8-18(A) · last checked 2026-10-23

Related New Mexico rules

Deposit return deadline

Itemized list of deductions and any balance within 30 days after the agreement ends or the tenant leaves, whichever is later.

Verified Source: NMSA 1978, § 47-8-18(C) · last checked 2026-10-23 · Full New Mexico deposit return deadline page

Interest on deposits

Under an annual rental agreement, if the owner takes a deposit greater than one month's rent, the owner must pay the resident interest each year at the passbook rate. For agreements shorter than one year, the deposit may not exceed one month's rent.

Verified Source: NMSA 1978, § 47-8-18(A) · last checked 2026-10-23 · Full New Mexico interest on deposits page

Move-in/move-out checklist

No state statute requiring a move-in inspection or checklist was found in NMSA 1978 ch. 47 art. 8 (Uniform Owner-Resident Relations Act).

Verified Source: NMSA §§ 47-8-1 to 47-8-52 · last checked 2026-10-23 · Full New Mexico move-in/move-out checklist page

Same topic in neighboring states

All New Mexico landlord-tenant law · New Mexico landlord FAQ · Deposit return deadline · Notice to enter · Required lease disclosures · Required disclosures (mold, lead, radon, bedbug, asbestos, flood zone) · Move-in checklist

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