New Mexico Late Rent Notice

New Mexico Late Rent Notice Requirements & Best Practices

Handling late rent in New Mexico requires following proper legal procedures to protect your rights as a landlord while maintaining good tenant relationships. Understanding New Mexico's late fee regulations and notice requirements is essential.

New Mexico Late Fee Regulations

New Mexico law governs how much landlords can charge in late fees and when they can be assessed:

• Reasonable Fees: Late fees must be "reasonable" under New Mexico law, typically 3-10% of rent
• Lease Specification: Late fees must be clearly stated in the original lease agreement
• No Compounding: Most New Mexico localities prohibit daily compounding late fees

When to Send a Late Rent Notice in New Mexico

Proper timing is crucial for late rent notices:

1. Day 1-5 after due date: Friendly reminder (not required but recommended)
2. Day 5-10: Formal late rent notice documenting the amount owed
3. Day 10-15: Pay or quit notice if payment not received
4. After grace period: Begin formal eviction proceedings if necessary

What to Include in Your New Mexico Late Rent Notice

An effective late rent notice in New Mexico should contain:

• Tenant Information: Full legal names of all tenants on the lease
• Property Address: Complete rental unit address
• Amount Owed: Base rent + any applicable late fees
• Due Date: Original rent due date and number of days late
• Payment Deadline: Specific date by which payment must be received
• Payment Methods: Accepted payment methods and where to submit
• Consequences: Clear statement of next steps if payment not received
• Contact Information: Landlord phone number and email for questions

New Mexico Late Rent Notice vs. Eviction Notice