Free New Mexico Cash for Keys Agreement Template

Last reviewed September 2026

Written by LawLease Editorial

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New Mexico Cash for Keys Agreement

This Cash for Keys Agreement is built with New Mexico as the governing state. These are the New Mexico landlord-tenant rules that most often bear on it, with the statute for each.

New Mexico rules at a glance

New Mexico rules for a Cash for Keys Agreement
Security deposit limit	1 month’s rent for agreements under one year; more is allowed on a 1-year+ lease, but the owner must then pay annual interestNMSA §47-8-18(A)
Deposit return	30 days after the later of termination or move-out, with an itemized list of deductionsNMSA §47-8-18(C)
Itemized costs	All costs of the rental — base rent and any fees charged during the term — must be disclosed in plain language and itemized in the published listing (§47-8-19.1). SB 267 also made charging undisclosed fees an unfair trade practice under the Unfair Practices Act.
Deposit forfeiture	The 30-day itemized-statement rule is enforced by total forfeiture of the right to withhold (§47-8-18(D)).
Month-to-month termination	30 days’ written notice before the periodic rental dateNMSA §47-8-37
Nonpayment eviction notice	3-day written notice to pay or the agreement terminatesNMSA §47-8-33

Security deposits in New Mexico

New Mexico’s deposit cap depends on the length of the agreement. For a rental agreement of less than one year — including month-to-month and short fixed terms — the owner can’t demand or receive a deposit greater than one month’s rent. On an annual (one-year or longer) agreement the owner may take more, but if the deposit exceeds one month’s rent, the owner must pay the resident interest on it every year at the statutory passbook rate (§47-8-18(A)).

Return deadline — Within 30 days after the later of the end of the tenancy or the resident’s departure, the owner must deliver an itemized written list of deductions together with the balance of the deposit (§47-8-18(C)).
Forfeiture — Miss the 30-day statement and the owner loses the right to withhold any part of the deposit, can’t counterclaim for damages in the resident’s suit to recover it, and is liable for the resident’s court costs and reasonable attorney’s fees (§47-8-18(D)).
Bad-faith penalty — An owner who retains a deposit in bad faith also owes the resident a $250 civil penalty (§47-8-18(E)).
Permitted deductions — Deposits may be applied to unpaid rent and to damages the owner suffered because the resident didn’t comply with the agreement or the Act — not to ordinary wear and tear.

Ending a New Mexico tenancy

Notice to end a New Mexico periodic residency (§47-8-37)
Week-to-week	7 days’ written notice
Month-to-month	30 days’ written notice before the periodic rental date

Nonpayment — A written 3-day notice of nonpayment; if the rent isn’t paid within three days of delivery, the owner may terminate and file a petition for restitution (§47-8-33(D)).
Lease violations — A 7-day notice of noncompliance lets the resident cure. A second material breach within six months of the first gets a 7-day notice with no right to cure; the initial notice must warn of this and be given within 30 days of the breach or the owner’s knowledge of it (§47-8-33(A)–(C)).
Substantial violations — Serious conduct within 300 feet of the unit — such as drug dealing, unlawful use of a deadly weapon, or causing serious physical harm — supports a 3-day notice of termination (§47-8-33(I)).
Military — Active-duty servicemembers with qualifying orders may terminate under the federal SCRA (50 U.S.C. §3955).

Required disclosures in New Mexico

Beyond these, the Uniform Owner-Resident Relations Act itself prescribes few other lease disclosures.

Owner and agent identity — At or before the start of the residency the owner must disclose in writing the name, address and telephone number of the owner, any person authorized to manage the premises, and an agent for service of process (§47-8-19).
Itemized costs — All costs of the rental — base rent and any fees charged during the term — must be disclosed in plain language and itemized in the published listing (§47-8-19.1). SB 267 also made charging undisclosed fees an unfair trade practice under the Unfair Practices Act.
Lead-based paint — Federal lead warning and known-hazard disclosure for housing built before 1978 (42 U.S.C. §4852d).

Tenant protections you can’t waive

No waiver of rights — A rental agreement can’t make either party waive or give up rights or remedies under the law (§47-8-16).
No retaliation — An owner can’t raise rent, cut services or seek possession because, within the previous six months, the resident complained to a government agency, organized with other residents, or lawfully exercised rights under the Act (§47-8-39).
No lockouts or shutoffs — Excluding a resident or interrupting electricity, gas, water, heat or other essential services without a court order is prohibited; the resident may abate 100% of rent for each affected day and recover damages and civil penalties (§47-8-36).
Deposit forfeiture — The 30-day itemized-statement rule is enforced by total forfeiture of the right to withhold (§47-8-18(D)).

New Mexico Cash for Keys Agreement FAQs

How much can a landlord charge for a security deposit in New Mexico?

For a rental agreement shorter than one year, no more than one month’s rent. On a lease of one year or longer there’s no fixed cap, but if the deposit exceeds one month’s rent the owner must pay the tenant annual interest at the statutory passbook rate (NMSA §47-8-18(A)).

How long does a landlord have to return a security deposit in New Mexico?

30 days after the later of the end of the tenancy or the tenant moving out, with an itemized list of deductions. Missing the deadline forfeits the right to keep any of it and makes the owner liable for the tenant’s court costs and attorney’s fees (NMSA §47-8-18(C)–(D)).

What eviction notice is required for unpaid rent in New Mexico?

A written 3-day notice of nonpayment. If the tenant doesn’t pay within three days of receiving it, the owner may terminate the agreement and file a petition for restitution in court (NMSA §47-8-33).

Cash for Keys Agreement in other states

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