Landlord & Tenant Laws in New Mexico.

A tenant should confirm the deposit amount and tenancy length because New Mexico generally requires annual interest on deposits exceeding one month’s rent unless the tenancy is shorter than one year.

In New Mexico, a landlord generally must return the security deposit within 30 days after the tenancy ends, together with a written itemized accounting of any lawful deductions. If the deposit exceeds one month’s rent, annual interest is generally required unless the tenancy is shorter than one year.

If a landlord wrongfully withholds a security deposit, New Mexico law may allow the tenant to recover the money due and other relief in the right case.