How much a landlord can charge as a late fee in New Mexico, whether there's a required grace period, and the rule that controls — verified July 2026.
5% of the rent for each period in default (reduced from 10% effective June 20, 2025). Calculated on rent only — not deposits, utilities, or other fees.
None required by state law. Read N.M. Stat. Ann. § 47-8-15(D) for the exact conditions.
Use our free late fee calculator to work out the charge from your lease terms, or compare every state in the late fee laws by state directory.
Yes, if the written lease provides for it. New Mexico limits the amount: 5% of the rent for each period in default (reduced from 10% effective June 20, 2025).. Calculated on rent only — not deposits, utilities, or other fees. Verified July 2026 against N.M. Stat. Ann. § 47-8-15(D) — confirm with the current statute or an attorney.
5% of the rent for each period in default (reduced from 10% effective June 20, 2025).
None required by state law.
N.M. Stat. Ann. § 47-8-15(D). The source is published at https://law.justia.com/codes/new-mexico/chapter-47/article-8/section-47-8-15/.
No. This is a best-effort summary compiled from a cited source and verified July 2026. Late-fee rules change and some cities add stricter local caps a summary can't capture. Confirm with the current statute or a licensed attorney before relying on it.
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