Create a New Mexico Rental Application with our customizable template!
A New Mexico rental application form is a tenant screening tool used by landlords and property managers to determine who is a good risk for a specific rental property.
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Rental applications require the applicant’s personal information, such as their full name, rental history, social security number, employment history, and income information.
The landlord or property management company uses the information to perform a background check and credit check to determine if the prospective tenant is a reasonable risk. The application may also ask more personal questions that touch on previous evictions or past bankruptcies. Although this information is sensitive, it is necessary for the landlord to find the most qualified applicant.
While this is a screening process, the rental application must conform with federal fair housing laws and New Mexico landlord-tenant laws to protect both the potential tenant and the property owner.
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As a New Mexico landlord or property manager, a rental application is a fantastic tool. It allows you to determine if an applicant is a reasonable risk before entering into a rental agreement with them. Before creating your rental application, you should decide whether you will allow married couples or couples in a civil union to apply on the same form or if you prefer that each applicant complete a separate application. If you decide to allow the applicants to use the same document, leave enough space in each section for both applicants to provide the required information. Create the following:
As a renter, you're a party to a legal document known as a lease agreement. It may seem like the owner or landlord of the real estate has all of the power, but you do have rights as a renter. Here are some websites that can be beneficial:
According to New Mexico law, if a lease is less than 12 months, then the security deposit may be no more than one month's rent. If the lease is 12 months or longer, then there is no limit. However, if the landlord collects a security deposit of more than the equivalent of one month's rent, they must pay interest to the tenant every year.
When the lease is up and the tenant vacates the property, the landlord must return the security deposit within 30 days (N.M.S.A § 47-8-18).
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