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New Mexico Late Fee Laws

Last reviewed: July 10, 2026

Maximum late fee
10% of monthly rent
Grace period
None required
Statute
N.M. Stat. § 47-8-15(D)

New Mexico caps residential late fees at 10% of the monthly rent under N.M. Stat. § 47-8-15(D). A lease can agree to less, but a fee above the statutory limit is generally unenforceable no matter what the lease says.

New Mexico's statute doesn't impose a waiting period, so the lease controls when a late fee may be charged. Charging from day one is legal here only if the lease says so explicitly.

New Mexico caps the fee at 10% of the total rent for each rental period in default, and the lease must provide for it. To assess the fee the landlord must give notice of the charge no later than the last day of the following rental period.

Calculate a late fee with New Mexico's limits preloaded

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Frequently asked questions

What is the maximum late fee in New Mexico?
State law limits the fee to 10% of the monthly rent (N.M. Stat. § 47-8-15(D)). Charging above that is generally unenforceable.
Is there a required grace period in New Mexico?
No. New Mexico's statute doesn't mandate a grace period, so the lease determines when a fee kicks in.
Where is this in New Mexico law?
The controlling provision is N.M. Stat. § 47-8-15(D). Legislatures amend these rules, so always confirm the current text via the official source linked above.

This tool is for informational purposes only and is not legal advice. Rules vary by state and locality and change over time — confirm current requirements for your jurisdiction before acting.

Late fee laws in other states