This office lease provision states that Base Rent shall be $25.50 per rentable square foot. During the Renewal Term, Base Rent shall be increased by the change, if any, in the Consumer Price Index. In no event will the Renewal Rental Rate be less than the Base Rent.
New Mexico Provision Calculating the Rent Increase
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Multi-State
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US-OL24017D
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FAQ
California law states that a late rent fee should be ?reasonable,? though it does not set any restrictions when it comes to a maximum late fee for rent. Generally, a reasonable late rent fee in the state is considered 5% to 10% of the cost of rent, with most California landlords charging 5% for any late rent payments.
Landlords cannot raise rent more than 10% total or 5% plus the percentage change in the cost of living ? whichever is lower ? over a 12-month period.
Ing to the Fair Housing Act and the New Mexico landlord-tenant laws, the tenant cannot be discriminated against for their sexual orientation, national origin, religion, disability, race, color, or sex.
The purpose of the Uniform Owner-Resident Relations Act [47-8-1 NMSA 1978] is to simplify, clarify, modernize and revise the law governing the rental of dwelling units and the rights and obligations of owner and resident, and to encourage the owners and the residents to maintain and improve the quality of housing in ...
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.
Late Fees: 10% of monthly rent (NMSA § 47-8-15(D)). Grace Period: There is no mandatory grace period in New Mexico. NSF/Bounced Check Fee Maximum: There is no specified service fee for bad checks in New Mexico.
Section 47-8-37 - Notice of termination and damages. A. The owner or the resident may terminate a week-to-week residency by a written notice given to the other at least seven days prior to the termination date specified in the notice.
If a landlord wants to charge a late fee in New Mexico, it must be stated in the lease agreement. There is no grace period requirement, and landlords can charge up to a 10% late fee on any rent due.
