New Mexico's complete current statutory rules were not verified. Interest and account fields reflect Gemini research on NMSA §47-8-18; all other fields pending official statute review.
Last verified: 2026-10-10
Max deposit
—
no statutory cap
Return deadline
See notes
Interest required
No
not required
Separate account
No
Maximum Security Deposit
No statutory maximum
Current law not verified; proposed amendments cannot establish enacted rules.
Return Deadline
See notes
Exact current statutory deadline not verified.
Interest on Deposit
Not required
No interest requirement identified in NMSA §47-8-18.
Separate Account Required
Not required
No separate account requirement identified in NMSA §47-8-18.
⚖️ Permitted Deductions
Current enacted list not verified.
📋 Official Source
The information on this page is sourced from the primary New Mexico statute. Always verify against the current official text before making decisions.
How much can a landlord charge for a security deposit in New Mexico?
New Mexico does not set a statutory maximum for security deposits. Landlords and tenants may agree to any amount in the lease. Current law not verified; proposed amendments cannot establish enacted rules.
Does New Mexico require landlords to pay interest on security deposits?
No. New Mexico law does not require landlords to pay interest to tenants on security deposits. No interest requirement identified in NMSA §47-8-18.
Must New Mexico landlords keep security deposits in a separate bank account?
No. New Mexico law does not require a separate bank account for security deposits. No separate account requirement identified in NMSA §47-8-18.
Automate security deposit compliance
Property management software handles deposit tracking, deadline reminders, itemized deduction statements, and compliant separate account requirements automatically — so you never miss a New Mexico deadline.
This page is for informational purposes only and is not legal advice. Security deposit laws change — always verify the current statute or consult a licensed attorney in New Mexico before making decisions. Official source: https://housingnm.org/uploads/documents/NMLA_2025_Renter_s_Guide_English.pdf. Last reviewed: 2026-10-10.