The Standard New Mexico Housing Lease Agreement is a lease agreement whereby a landlord and tenant agree to exchange livable land for monthly payments. This is a fixed-term contract which, after being signed by the parties, is valid for one (1) year. As a general rule, the landlord will request through the rental application the personal, financial and basic information of the tenant to see if he approves the character of the potential tenant. If the tenant is approved, the landlord will draft a tenancy agreement and, at his sole discretion, apply for a deposit that cannot exceed the equivalent of one (1) month`s rent (No. 47-8-18). Update: New Public Health Order effective 2 December 2020 New Health Regulations comes into effect 16. – November 30, 2020 Laws – Chapter 46, Article 8 (Owner-Resident Relations) Date: 01/11/2021 – 01/13/2021 Time: October New Real Estate Market Remain Strong Our office is closed November 26-27, 2020 at Servance of the Thanksgiving Holiday. ..