Elevate Your Commercial Lease Agreement in Mexico with eSignature Licitness

How to eSign a document: eSignature licitness for Commercial Lease Agreement in Mexico

foreign s for landlords and tenants in New Mexico to avoid disputes is by understanding the New Mexico rental laws whether you're a small-time landlord or a first-time renter understanding these rules around leases and evictions can help save you time and money we're e-forms the world's largest online database of fillable legal forms in this video we'll address New Mexico's rental laws including the relationship between rental laws and Lease agreements specific rules like those for security deposits and late fees and how the eviction process works if you want a valid lease agreement that you can customize to your situation but don't want to spend thousands of dollars hiring an attorney to draft one click on the link at the end of this video to get started creating your own the first thing to understand is the difference between rental laws and Lease agreements for almost all situations involving landlords and tenants the lease agreement signed by the parties will be the first place to go to answer questions lease Agreements are contracts with terms that the parties can accept or suggest changing and in most cases what the parties agree to is final for example it's a lease agreement not state law that determines which day of the month the rent is due on rental laws tend to come into play when there is no written lease a situation called a tenancy at will when there's a written lease but it's ambiguous on a certain point to set minimum or maximum standards on certain issues regardless of what parties may agree to and to establish procedures for eviction so what are the areas where New Mexico's rental laws set specific rules one area is security deposits for most residential leases landlords can charge no more than one month's rent as a security deposit and if the landlord does charge a security deposit it must be returned within 30 days if any or all of the deposit is retained to fixed damages the landlord must provide a written itemization of the repairs within 30 days another area in which New Mexico law sets rules is for charging late fees to charge a fee to tenants for providing rent after the due date on which it's due the lease agreement must mention that late fees can be charged the fee cannot be more than 10 percent of monthly rent and the owner must notify the tenant that a fee is being assessed no later than the end of the month after it's incurred what about New Mexico's laws regarding eviction eviction is the legal process for removing a tenant and may only happen for certain reasons and only after providing a certain amount of notice in New Mexico a landlord May initiate the eviction process for failure to pay rent in this instance a landlord must give the tenant a notice specifying the tenant can either pay all money owed within three days or face eviction or for not complying with some other obligation of the lease if a tenant breaches some other provision of the lease besides failing to pay rent such as failing to keep the property habitually clean the landlord must give the tenant a seven day notice asking the tenant to fix the problem if the tenant fails to act as requested in the notice or or fails to respond at all then the landlord can go to the magistrate in the county where the property is located and file a petition by owner for restitution and a summons to alter the parties to a pending court date like other states New Mexico's rental laws can seem full of complex terms and conditions but in the long run understanding them both will help landlords and tenants avoid unnecessary problems thanks for watching and don't forget to subscribe for more videos about legal issues relevant to Everyday Life [Music]