New Mexico Deposit return deadline

Related New Mexico rules

Security deposit limit

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 · Full New Mexico security deposit limit 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

Abandoned property

After abandonment (7+ days' absence without notice while rent is delinquent), the owner must store the resident's property at least 30 days. The owner must deliver or mail written notice of intent to dispose on a date at least 30 days out, with contact information, and give reasonable access to retrieve it.

Verified Source: NMSA 1978 §§ 47-8-3(A) (as amended by SB 267, Sec. 1), 47-8-34.1 · last checked 2026-10-23 · Full New Mexico abandoned property page