New Mexico Rent Late Fee Calculator
Calculate rent late fees and verify compliance with New Mexico state regulations. Free instant calculator with legal compliance verification.
In New Mexico, the regulation of rent late fees is designed to be balanced, offering protections for tenants while allowing landlords to impose fees under defined circumstances. The maximum allowable late fee is capped at 10% of the total rent. This regulation ensures that tenants are not overburdened by excessive fees while still holding them accountable for meeting rental obligations.(N.M. Stat. Ann. § 47-8-15(D))
Related Statutes
In New Mexico, landlords can charge a late fee only if it is explicitly mentioned in the lease agreement. The fee must not exceed 10% of the monthly rent, providing a clear cap to prevent exorbitant charges. This cap helps maintain fairness in landlord-tenant relationships by ensuring that fees are predictable and reasonable.
Key Factors:
- Must be in the lease agreement
- Capped at 10% of rent
- No daily accumulation allowed
Albuquerque
Albuquerque follows the state regulations with no additional municipal rules on rent late fees.
Learn moreSanta Fe
Santa Fe adheres to state laws regarding late fees without additional municipal legislation.
Learn moreClarification on Late Fee Notification
The legislation mandated that landlords must notify tenants of late fees by the end of the next rental period, ensuring transparency and timely communication.
Arizona
No statutory cap, but fees must be reasonable
Colorado
5% of rent
Texas
Up to 12% for properties with fewer than four units
Landlord Best Practices:
- •Include clear language about late fees in the lease agreement.
- •Notify tenants of any late fees by the end of the next rental period.
- •Ensure late fees do not exceed 10% of the total rent.
Tenant Best Practices:
- •Review the lease agreement carefully to understand late fee clauses.
- •Pay rent promptly to avoid late fees.
- •Communicate with landlords if there are issues that might delay rent payment.
Frequently Asked Questions - New Mexico
Maximum 10% of total rent. Must notify tenant by end of next rental period. Must be in lease.
View Official State Law →Updated October 2025