An owner may increase a fee that is provided pursuant to the terms of a rental agreement by providing written notice at least sixty days prior to the periodic rental date specified in the rental agreement or at least sixty days prior to the end of the term of a fixed term residency. In the case of a periodic residency of less than one month, written notice shall be provided at least one rental period in advance of the first fee payment to be increased.

History: Laws 2025, ch. 122, § 5.

ANNOTATIONS

Effective dates. — Laws 2025, ch. 122 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 20, 2025, 90 days after adjournment of the legislature.