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Click ‘Get Form’ to open the Residential Lease Renewal Agreement in the editor.
Begin by filling in the names of the Lessor and Lessee in the designated fields at the top of the document.
Enter the effective date of the agreement, ensuring accuracy for legal purposes.
Specify the original lease date and address of the premises to confirm details from the initial agreement.
Indicate any changes to terms, such as increased rent, in the provided section to ensure clarity between parties.
Fill in the new lease term start and end dates, making sure they align with your intentions for renewal.
Review all sections for completeness and accuracy before proceeding to sign.
Use our platform’s signature feature for both parties to sign and date the agreement electronically.

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What is the standard residential lease agreement in New Mexico?

The New Mexico standard residential lease agreement is a rental contract wherein a landlord and tenant come to terms regarding the exchange of livable space for monthly payments. The agreement is a fixed-term contract that will last for a term of one (1) year once it has been signed by the parties.

What happens after a lease period ends?

When the lease expires, the tenant moves away but typically doesnt get anything back, except perhaps a security or damage deposit.

What is the option to renew a residential lease?

What is the renewal option? The renewal option allows a tenant to renew its lease for a predetermined period of time on terms stipulated in the option language. Most often, the option must be exercised within a specific time window, typically 9-18 months prior to the expiration of the lease.

What are my rights when renewing a lease?

Most landlords require 3060 days notice before your lease ends. Missing this could limit your options or cause extra fees. You have the right to receive written notice of any changes and to negotiate new terms before signing.

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