The New Mexico Uniform Owner-Resident Relations Act regulates the tenant-landlord relationship and their responsibilities, the rental lease agreement should contain the details about payment of rent and the responsibilities and terms of use of the premises during the lease. Although verbal rental agreements are permitted it is always recommended to have a rental lease documented for safeguarding the interest of both the landlord and the tenant.
When the lease term ends and the landlord does not wish to extend the term he has to give the tenant a 60 days notice before the lease ends in case of a yearly contract, similarly if the tenant wishes to end the contract early they are obligated to give the landlord a 60 day notice before they decide to end the lease. In case of term violation the notice days may be reduced.
The tenant is also obligated to pay the rent to the landlord on time as specified and mentioned in the agreement. A Landlord may only increase the rent in a month-to-month lease and that too only after providing a 30 day written notice about the increase of rent.
New Mexico 30 Day Notice to Terminate Rental Agreement is an instrument used by a landlord to terminate a lease agreement and initiate legal eviction of a tenant on no-cause or good-cause grounds. However, it is necessary to serve this notice to terminate rental contract 30-days prior to the date of eviction. The landlord must retain two or more copies of this form for use in the court during filing a legal petition for eviction of the tenant. This legal document is in line with […]
A seller of a property may choose to appoint an exclusive broker to sell the property by signing and executing New Mexico Exclusive Right to Sell Agreement. This document entitles the real estate agent to act solely on behalf of the seller during the term specified in it. In addition, the document grants a protection period to the agent to guard vested monetary interests. Together the seller and the agent must review this document thoroughly to understand terms, conditions, and provisions. The seller must sign […]
A landlord can serve form CV-106 New Mexico 7 Day Notice of Non-Compliance to the tenant for violating the terms of the tenancy within the jurisdiction of New Mexico State per NMRA Rule 4-902 and Uniform Owner-Resident Relations Act. However, this legal instrument is not suitable for serving the eviction notice to the tenant upon non-payment of the rent. This form CV-106 has a provision to provide an opportunity to the tenant to correct the violation and damages arriving due to it. A landlord can […]
New Mexico RedDoor Storage Rental Agreement is a legal contract signed to enter into a tenancy of a RedDoor storage unit. RedDoor storage units are available in various sizes, accessible 24/7, are secure, and do not require long duration commitments of tenancy. The tenant must duly sign with initial on various lines in acceptance of the terms and conditions of the tenancy. These storage units are available on a monthly tenancy basis. The tenant must select options to opt-in for insurance as well as courtesy […]
New Mexico Rental Application is a template to apply for residential tenancy in the New Mexico State. Each applying resident must prepare separate form and submit for approval of the property owner. Please read this 2-page application form and Contemplated Rental Agreement Information carefully to understand the nature of the requested information and the terms and conditions of the tenancy. This application form has prominent sections comprising of information about the applicant, rental history of the applicant, particulars about income and employment, credit and bank […]
New Mexico Land Lease Agreement is a tool designed to facilitate leasing farmlands in New Mexico. The purpose of this lease agreement is to provide opportunity for young farmers to grow. Similarly, such lease agreement takes care of the rightful equity of the landlord. In addition, this legal contract covers all aspects of the tenancy. However, it is imperative that both signing parties review the entire document and prepare it together as it requests various inputs and distribution of liabilities and profits. Notary acknowledgement of […]
