Checklist for Submission on Lease of Real Property - New Mexico

Checklist for Submission on Lease of Real Property is a legal document that was released by the New Mexico Department of Finance and Administration - a government authority operating within New Mexico.

FAQ

Q: What is a lease agreement?A: A lease agreement is a legally binding contract between a landlord and a tenant that outlines the terms of renting a property.

Q: What should be included in a lease agreement?A: A lease agreement should include details such as the names of the landlord and tenant, the rental property address, the term of the lease, the rent amount, any security deposit required, and any other rules or conditions.

Q: Do I need to have a written lease agreement?A: While oral lease agreements are valid in some cases, having a written lease agreement is highly recommended to avoid any misunderstandings or disputes.

Q: What is a security deposit?A: A security deposit is a sum of money paid by a tenant to a landlord as a form of insurance against any damages or unpaid rent. It is typically refundable at the end of the lease term, minus any deductions for damages.

Q: Are there any restrictions on security deposits in New Mexico?A: Yes, in New Mexico, landlords can only charge up to one month's rent as a security deposit, and they must provide a written receipt and an itemized statement of any deductions made.

Q: Can a landlord increase the rent during the lease term?A: Unless specified in the lease agreement, a landlord cannot increase the rent during the lease term.

Q: Can a landlord enter the rental property without notice?A: In most cases, a landlord must provide reasonable notice (usually 24 hours) before entering the rental property, except in emergencies.

Q: What are the rights and responsibilities of a tenant?A: Tenants have the right to a safe and habitable living environment, privacy, and to have repairs done in a timely manner. They are responsible for paying rent on time, keeping the rental property clean, and reporting any damages or maintenance issues to the landlord.

Q: What should I do if I have a dispute with my landlord?A: If you have a dispute with your landlord, it is best to try and resolve the issue through communication first. If that fails, you may consider seeking legal advice or contacting the appropriate housing authority in your area.

Q: Can a landlord evict a tenant without a valid reason?A: No, landlords can only evict tenants for specific reasons allowed by law, such as non-payment of rent, violation of lease terms, or illegal activities on the property.