New Mexico Deposit Agreement
Description
How to fill out Deposit Agreement?
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FAQ
How to write a security deposit return letter Landlord's name and contact information. Tenant's name and contact information. Date of the letter. Amount of security deposit being returned to the tenant. Breakdown of any deductions made from the security deposit, including an explanation for each deduction.
Every New Mexico tenant has the legal right to seek proper and fair housing without any kind of discrimination against them. The New Mexico landlord-tenant law also allows them to request required repairs for the unit (If it needs them).
New Mexico defines ?Normal Wear and Tear? as ?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, equipment or chattels of the owner by the residents or by any other person in the dwelling unit or on ...
New Mexico has no limits for what landlords may charge for rent and may file for eviction sooner than in other states.
Deposits. A. An owner is permitted to demand from the resident a reasonable deposit to be applied by the owner to recover damages, if any, caused to the premises by the resident during his term of residency.
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.
If the resident's rent is subsidized in whole or in part by a government agency, the abatement limitation of one month's rent shall mean the total monthly rent paid for the dwelling and not the portion of the rent that the resident alone pays.
