New Mexico Late Fee Calculator

5% most a lease may charge as a late fee
Rent limit
5% of the monthly rent
Earliest fee day
Day 1 after the due date
Statute
NMSA § 47-8-15(D)
Checked
What was not paid on time. Copies the rent until you type here.
How the lease sets the late fee
Pre-filled with the New Mexico limit; type the figure from your lease.
How many days the lease gives before a late fee; 0 if none.

Your late fee

$62.50

At the legal limit

Paid 12 days late; the lease has no grace period.

The lease asks for $62.50, exactly the most NMSA § 47-8-15(D) permits on these figures.

Days past due
12 days
Grace period ends
No grace period
Earliest fee date
October 20, 2026
Lease late fee
5% of $1,250.00 = $62.50
Legal maximum
$62.50
Rent + late fee
$1,312.50

Limit set by New Mexico (5% of the monthly rent): $62.50

5% × $1,250.00 monthly rent = $62.50

Late rent notice builder

Who it is from and to
Amounts
Taken from the calculator. Set 0 if the rent itself is paid.
Taken from the result; you may change it.
Adds the two above until you type your own figure.
Blank: the letter asks for payment at the earliest opportunity.
Payment and contact
Where and how the tenant can pay.
Late rent notice

[Your name or company]

Date: October 31, 2026

To: [Tenant name]

[Rental property address]

Re: Overdue rent for [Rental property address]

Dear [Tenant name],

This letter is a reminder that the rent of $1,250.00 for [Rental property address] was due on October 19, 2026. As of October 31, 2026, $1,250.00 of it is still unpaid (12 days past due).

Your lease provides for a late charge, which comes to $62.50.

Amount now due

Unpaid rent
$1,250.00
Late charge
$62.50
Total
$1,312.50

Please pay $1,312.50 at your earliest opportunity.

If this letter crossed with your payment, please disregard it.

Regards,

[Your name or company]

Up to 15% statutory default — a ceiling (see note)
Max written B2B rate
No cap when the debtor is a business entity (express statutory exclusion); no ceiling for other debtors either — 15% is only a default and on open accounts the parties may set a higher rate by agreement. The 36% APR cap binds only licensed small-loan / bank-installment lenders.
Cap regime
No statutory cap
Statute
NMSA 1978 §§ 56-8-3, 56-8-5, 56-8-9
Verified
— how we verify · changelog

When no written rate is fixed; courts typically award the full 15% on matured sums from the day the balance is ascertained.

New Mexico's default is up to 15% — a ceiling, not a fixed entitlement (see the note above). Enter the rate that applies to your case, or your contract's rate.

Maximum late fee in New Mexico — written B2B contracts

No statutory cap

Basis: NMSA 1978 §§ 56-8-9(B), 56-8-5, 56-8-21.

About this page

New Mexico rent late fee law

New Mexico: where the rental agreement allows a late fee, the owner may charge up to 5% of the rent for each rental period in default, counting rent only (no deposits, additional fees or utilities), with notice of the fee given by the last day of the next rental period.

D. If the rental agreement provides for the charging of a late fee and if the resident does not pay rent in accordance with the rental agreement, the owner may charge the resident a late fee in an amount not to exceed five percent of the rent for each rental period that the resident is in default. Late fees shall be calculated only based on rent. Rent calculations to determine late fees shall not include deposits, additional fees or utilities. To assess a late fee, the owner shall provide notice of the late fee charged no later than the last day of the next rental period immediately following the period in which the default occurred.
— NMSA 1978, § 47-8-15(D) (Chapter 47, Article 8). Read it at the official source · checked .

Before you send the late rent notice: it is a reminder letter about overdue rent and a late charge, not an eviction notice. A notice to pay rent or quit is a separate document, and New Mexico has its own rules for it. Nothing on this page is legal advice.

What New Mexico law says about invoice interest

No provision of law prescribing maximum rates of interest that may be charged in any transaction shall apply to a transaction in which a corporation, limited liability corporation or other business entity is a debtor, regardless of the purpose for which the corporation was formed [...]
— NMSA 1978 § 56-8-9(B). Read it at the official source · row verified 2026-08-19.

No maximum-rate law applies at all when the debtor is a corporation, LLC or other business entity; and on an open account the parties may agree to a rate above the 15% default, so B2B trade credit has no ceiling. The 36% APR cap reaches only licensed small-loan/bank-installment lenders.

Not legal advice. Figures were last verified on the date shown; check the cited statute before charging a late fee.