Define the type of property leased by the landlord to the tenant (s) in the first empty line, in the paragraph entitled „Offer to Rent.“ Examples are: apartment, 1st floor in the house of two families, house, etc. Leases in New Mexico must link a landowner and a tenant to an agreement by which the tenant pays the landlord for the use of their residential or operating land. The definition of the type of lease to be used depends on the requirements of the landlord and the tenant. The most popular contracts are the standard one-year rent (temporary) and the monthly agreement (which can be more easily terminated by the landlord or tenant). Regardless of the type of document chosen, the lessor should check all potential tenants with the rental application before signing a binding contract. Annual leases in New Mexico require a down payment of at least one month`s rent, and the landlord must pay the tenants` interest each year. If the term of the tenancy ends and the lessor does not wish to extend the term, the tenant must give the tenant 60 days before the expiry of the tenancy agreement in the case of an annual contract, just as if the tenant wishes to terminate the contract prematurely, he is obliged to give the lessor 60 days before deciding to terminate the tenancy agreement. In the event of an infringement, termination days may be shortened. Maximum amount (No. 47-8-18) – The lessor can only charge up to one (1) month`s rent if the lease lasts less than one (1) year.
In the case of a lease that lasts one (1) year or more, the lessor can charge any amount. However, in these cases, the tenant, if he asks for more than one (1) month`s rent, is sent to the tenant in accordance with the tenant`s disposal. 47-8-18 (A) (1). In the case of a weekly lease, the notice period is given if it is given in writing 7 days on the termination date indicated in the notice of contract. If there are additional provisions that should be included in this contract, they must be mentioned under the terms „Additional Terms and Conditions.“ Finally, look for the line that is made with the words „… understands“ then enter the number of bathrooms in the rented property on the first empty space available. The second empty space, which precedes the words „bedroom,“ indicates the total number of bedrooms in the property for rent.