New Mexico rental/lease application form

Property managers provide a New Mexico rental/lease application form to tenants they are considering for a rental lease. The property manager will screen the resident using the personal information entered and will use their signature as confirmation that the information provided is accurate. The landowner will inform the occupant if they have been approved or disapproved after the check is completed. Common checks include creditworthiness, tenant background, criminal background, employment/income history, and so forth.

New Mexico rental/lease application form template

New Mexico rental/lease application form

Law guiding New Mexico rental application

Application Fee: There is no mention of an application fee in state regulations, and there are no restrictions (i.e., no resolutions).

For tenancies lasting less than a year, the property manager is legally permitted to request one (1) month's rent as a security deposit. An occupant who stays for a year or more is required to pay the property manager a yearly premium "equivalent to the present bank lending rate in state property funds and credit accounts" (§ 47-8-18(A)).

Questions to ask during an application screening

  • Do you have a specific move-in date in mind?

It quickly establishes whether you and your applicant are a good fit, making this one of the best initial tenant screening questions. You might have an immediate vacancy, but your prospective tenant will not be able to move in for a few months.

  • Have you got any pets?

Use the initial tenant screening questions to pre-qualify candidates before conducting a more thorough screening. When you refuse to accept pets, you've saved yourself and the applicant some time and energy. In cases where pets are allowed, but there are restrictions on the number of pets or the size of the pets, you ought to notify the applicant.

  • Can you tell me how long you've lived in your current place?

A good question to ask prospective tenants is how long their current and previous residences have been occupied. The likelihood is that they will act in the same way toward you if they show signs of instability by hopping from property to property.

  • What is the reason for your relocation?

Asking this straightforward but insightful question may reveal earlier issues, like evictions. Take the time to find out why the prospective tenants are moving. They might be moving because they have outgrown their current apartment or because they want to shorten the distance they must travel to work. 

  • How many smokers are in your household?

Due to the damage smoking can cause to property, tenant screening should address this issue. There is no guarantee that prospective tenants will tell you whether they smoke, but you might see a pack of cigarettes or smell smoke that gives you a different impression. 

  • What is your monthly pay?

This gives the tenant the ability to save money for other expenses while also acting as a safety net in case unanticipated costs like car repairs or medical expenses arise. Along with pay stubs and an employment reference, you should use Income Insights to evaluate the tenant's income.

  • Have you previously been found guilty of a crime? If yes, please explain. 

Before deciding whether or not an applicant is a good fit for your property, you should look into this important element of their background.

Download our free New Mexico lease application in an instant to create a legally binding document.

Download our free New Mexico lease application in an instant to create a legally binding document.

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