Pay yearly interest on deposits over one month's rent. On a lease of one year or longer where the security deposit is more than one month's rent, New Mexico law requires paying the resident interest on the deposit every year, so a yearly reminder keeps that payment from being missed.
The New Mexico rule
Each rule shows its schedule, its primary sources, and the date it was last verified.
Related rules in New Mexico
The New Mexico guide lists every compliance obligation, the seasonal maintenance calendar, and baseline upkeep.
Open the New Mexico landlord guide · Security deposit interest in every state
What Landautomate does with this page
This guide is the reading version of the Landautomate New Mexico rule base. In the app, the same rules become dated tasks on each New Mexico property, timed to its purchase date, lease dates, age, and climate, with an email before each one is due. The free preview shows a sample of that schedule for New Mexico in under a minute, no account needed.
See this calendar built for your own property
The free preview takes a state and a few property facts and shows the schedule Landautomate would run, no account needed. Every new account starts with a 30-day free Pro trial, no card required.