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If the tenant remains on the property after the lease expires (and there is no clause for automatic renewal), the landlord can approve of this continued tenancy (NM Stat 47-8-37(C) (2019)). With landlord approval, the renewal will be on a month-to-month basis unless rent is paid weekly (NM Stat 47-8-15(C) (2019)).
It is not necessary to docHub a New Mexico residential lease agreement. However, whilst this might not be a legal requirement in New Mexico state, signees are still advised to consider this step to provide further legal enforceability.
Process for lease extension Check whether youre eligible to extend the lease on your property. Youll need to have owned the leasehold for the property for at least two years. Inform the freeholder that you intend to apply for a lease extension via the statutory route.
Month-to-month agreements required 30 days notice of termination from either the landlord or tenant. For week-to-week agreements, the landlord or tenant must give the other party 7 days notice of termination.
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