New Mexico Late fees
Can a landlord charge a late fee in New Mexico, and how much?
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
How this works in New Mexico
New Mexico allows a late fee only if the lease provides for one. 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.
Worked example for New Mexico
Example: The lease provides for a late fee, and monthly rent is $1,000. The fee may not exceed 5% of that rent, which is $50, for each rental period in default. The $50 is figured on rent only, not deposits, other fees, or utilities. Notice of the fee must be given by the last day of the next rental period.
New Mexico timelines and limits
| Lease requirement | The lease must provide for a late fee |
|---|---|
| Cap | 5% of the rent for each rental period in default |
| What the 5% is figured on | Rent only, not deposits, other fees or utilities |
| Notice | By the last day of the next rental period |
New Mexico FAQ
How much can a New Mexico landlord charge for late rent?
No more than 5% of the rent for each rental period in default, and only if the lease provides for a late fee, under NMSA 1978, § 47-8-15(D), as amended by Laws 2025, ch. 122 (SB 267).
Is the 5% calculated on more than rent?
No. It is figured on rent only, not deposits, other fees, or utilities.
When must I give notice of the fee?
By the last day of the next rental period.
Sources for this section: NMSA 1978, § 47-8-15(D), as amended by Laws 2025, ch. 122 (SB 267) (checked 2026-10-23)
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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