New Mexico Increase Rent For Monthly Tenants
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How to fill out New Mexico 30 Day Notice Of Increase In Rent - Fixed Term Tenancy - Residential?
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FAQ
Rent ? New Mexico prohibits rent control on state and local levels, so landlords may charge whatever they deem reasonable for rent. There are also no limits for raising rent, but they must notify month-to-month tenants at least 30 days before the new rent takes effect.
Normal wear and tear is deterioration that occurs based upon the use for which the rental unit is intended, without negligence, carelessness, accident, abuse or intentional damage of the premises.
Like most states, New Mexico requires landlords to give 30 days' notice to increase rent for fixed-term tenancies. The notice should be provided 30 days prior to the end of the leasing term (NMSA § 47-8-15(F)).
Dear [TENANT NAME(S)], As indicated in your lease, your lease at [PROPERTY ADDRESS] will end on [LEASE EXPIRATION DATE ? write in full]. Please note that the monthly rent for the above [PROPERTY ADDRESS] will increase from [OLD RENT AMOUNT] to [NEW RENT AMOUNT] effective [DATE OF NEW LEASE ? write in full].
Upon termination of the tenancy, landlords may deduct from the security deposit any remaining rent that is due and the cost of repairs for damages caused by the tenant.