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Free New Mexico Security
Deposit Return Letter Template

Last reviewed September 2026

Written by LawLease Editorial

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New Mexico Security Deposit Return Letter

When a tenancy ends, a New Mexico landlord has a set time to return the deposit or send an itemized list of deductions. Here’s what New Mexico’s statute says.

New Mexico rules at a glance

New Mexico rules for a Security Deposit Return Letter
Return deadline30 days. 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.NMSA §47-8-18(C)
PenaltyMissing the 30-day statement forfeits the right to withhold any part or counterclaim and makes the owner liable for the resident’s court costs and reasonable attorney’s fees; bad-faith retention adds a $250 civil penalty.NMSA §47-8-18(D)–(E)

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.

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 Security Deposit Return Letter 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)).

More New Mexico landlord documents

Security Deposit Return Letter in other states

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