General info, not legal advice. Details

New Mexico Late fee grace period

Last reviewed 2026-10-23

Is there a grace period before a late fee can be charged in New Mexico?

New Mexico sets no statutory grace period before a late fee. If the rental agreement provides for one, a late fee of up to 5% of the rent may be charged for each rental period the resident is in default, with notice no later than the last day of the next rental period (NMSA 1978, § 47-8-15(D), as amended by Laws 2025, ch. 122). Any grace period depends on the lease.

Verified Source: NMSA 1978, § 47-8-15(D), as amended by Laws 2025, ch. 122 (SB 267) · last checked 2026-10-23

Related New Mexico rules

Late fees

Only if the lease provides for a late fee; the fee may not exceed 5% of the rent for each rental period in default, figured on rent only (not deposits, other fees or utilities), and notice must be given by the last day of the next rental period.

Verified Source: NMSA 1978, § 47-8-15(D), as amended by Laws 2025, ch. 122 (SB 267) · last checked 2026-10-23 · Full New Mexico late fees page

Eviction notice (nonpayment)

3 days' written notice of nonpayment and intent to terminate; paying the full amount due before the notice expires bars an eviction for nonpayment.

Verified Source: NMSA 1978, § 47-8-33(D) · last checked 2026-10-23 · Full New Mexico eviction notice (nonpayment) page

Same topic in neighboring states

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

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