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    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.

    Late Fee Calculator
    100% Free
    AI-Verified
    Enter your rental details to verify late fee compliance

    Select where the rental property is located

    Base rent only - exclude utilities, pet fees, parking, and other add-ons

    The late fee percentage specified in your lease agreement

    New Mexico Regulations
    State-specific late fee rules
    Grace Period
    0 days
    Max Percentage
    10%
    Daily Rates
    Not Allowed
    New Mexico's Balanced Framework

    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))

    Primary Statute
    N.M. Stat. Ann. § 47-8-15

    Regulates the imposition of late fees in rental agreements

    Related Statutes

    N.M. Stat. Ann. § 47-8-18
    Understanding New Mexico's Cap on Late Fees

    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
    Municipal Regulations

    Albuquerque

    Albuquerque follows the state regulations with no additional municipal rules on rent late fees.

    Learn more

    Santa Fe

    Santa Fe adheres to state laws regarding late fees without additional municipal legislation.

    Learn more
    Recent Legislative Changes
    June 2023

    Clarification 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.

    Comparing New Mexico to Neighboring States
    New Mexico's regulations on late fees are moderate compared to neighboring states, with some states offering more tenant protections.

    Arizona

    No statutory cap, but fees must be reasonable

    5 day grace period

    Colorado

    5% of rent

    0 day grace period

    Texas

    Up to 12% for properties with fewer than four units

    2 day grace period
    Best Practices for Landlords and Tenants

    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

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    State Regulations Reference
    Official source for New Mexico rent late fee regulations

    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