New Mexico Security Deposit Rules
Official deposit limits, return deadlines, and legal citations for this state.
Deposit Requirements
Maximum Deposit
1 month's rent (< 1 year); any amount if held in interest-bearing account (≥ 1 year)
Return Deadline
30
Itemized Statement Required
Yes
Interest Required
Yes
Pet Deposit Rules
No separate statutory pet deposit limit.
Allowed Deductions
Damage beyond normal wear and tear, unpaid rent, unpaid utilities, and other costs associated with lease violations.
Security Deposit Timeline
Maximum Deposit
1 month's rent (< 1 year); any amount if held in interest-bearing account (≥ 1 year)
Return Deadline
30
Itemized Statement
Yes
Interest Required
Yes
Pet Deposit Rules
No separate statutory pet deposit limit.
Allowed Deductions
Damage beyond normal wear and tear, unpaid rent, unpaid utilities, and other costs associated with lease violations.
Legal Citations
- N.M. Stat. § 47-8-18