New Mexico Security Deposit Timeline
Step-by-step deposit lifecycle from collection to return.
New Mexico law governs how landlords collect, hold, and return security deposits. The timeline below outlines the deposit lifecycle in chronological order — from move-in limits and pet deposits to deductions, itemization, interest, and the final return deadline.
Security Deposit Timeline
Maximum Deposit
1 month's rent (< 1 year); any amount if held in interest-bearing account (≥ 1 year)
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.
Itemized Statement
Yes — landlords must provide a written itemized list of any deductions.
Interest Required
Yes — landlords must pay interest on security deposits held.
Return Deadline
30 days
Related Resources
Explore statutes, detailed rules, and calculators for this state.