The New Mexico Rental Agreement is an official paper that serves as an official agreement between a landlord and a tenant upon the occupation of a place. This document establishes the rights of both parties and helps them to avoid any renting-related problems that might occur. The creation of the rental lease agreement is regulated by the “Uniform Owner-Resident Relations Act” (NMSA § 47-8-1 through § 47-8-52). It is exceptionally important to initiate the lease completions for personal records, as the document contains not only the personal data of the landlord and the tenant but also specific details concerning the premises.
The deal is terminal. Termination of this contract depends on both parties’ wishes and can be month-to-month (or periodic), less than one month, or fixed-term (which means that the tenant intends to live on the premises during a period of time negotiated in advance). Most leases renew on a month-to-month basis, which means it is necessary to notify the other party about the withdrawal of the contract.
You will meet certain definitions in the paper, such as:
The landlord pledges to keep the premises safe, provide any necessary repair works, maintain the electricity, plumbing, running hot and cold water, reasonable heating, sanitary, ventilation, and other facilities and appliances.
The tenant has to keep the premises clean, safe, and deliver the place in the same condition as they received it for occupation at the beginning of the term. It is required that the tenant uses all the facilities and appliances in a reasonable manner, causes no damage, destruction, or impairment, and does not disturb neighbors’ peace and quiet unless in exceptional situations when this is required.
A certain amount of money both parties agreed on prior to the document completion should be indicated in the lease. The deposit serves to protect the landlord from the tenant’s incompetence and might be used to cover the payment needed to recover damages. Within 30 days after the end of the term, the landlord has to either return the whole balance of the deposit to the tenant or provide a written statement showing the deduction of the deposit.
The premises must be used only for residency. It is prohibited to keep or manufacture controlled substances in the place, unlawfully use deadly weapons, use the property for prostitution, other illegal actions, or any actions rather than those established in the contract. Substantial violations will lead to the tenant’s eviction with three days’ written notice. Any change of occupancy should be negotiated and approved by the landlord in written form.
The owner of the property indicates the number of tenants (if more than one) they legally allow to occupy the dwelling unit herein as well.
The date when monetary funds should be transmitted to the landlord as rental payments is indicated in the lease. If the tenant does not provide the payment in time, they will have three days to pay rent (unless other conditions are described in the contract). If the tenant fails to provide the necessary payment within these three days, the landlord may wish to end the tenancy.
The tenant is required to notify the landlord in case of being out of the premises for a period longer than seven calendar days (not later than on the first day of absence). During this period, the landlord is allowed to access the property at any reasonable time. If the tenant does not return to the premises after more than one full rental period, it is deemed to be abandonment. The landlord will immediately gain possession of the property without legal process in such a case.