Late fee rules in New Mexico
In New Mexico, the late fee is at most 5% of the rent (not fees, deposits or utilities) and must be in the lease. New Mexico law sets no grace period before a late fee.
Checked against New Mexico law on Oct 28, 2026.
What New Mexico law says
What is the maximum late fee a landlord can charge in New Mexico?
In New Mexico, the late fee is at most 5% of the rent (not fees, deposits or utilities) and must be in the lease.
Source: N.M. Stat. Ann. § 47-8-15(D), read Oct 28, 2026.
When can a landlord charge a late fee in New Mexico?
New Mexico law sets no grace period before a late fee.
We read the state's landlord-tenant law on Oct 28, 2026 and found no statute on this.
Check your city's rules too: a city or county can set stricter limits. This is general information, not legal advice.