New Mexico Late Fee Calculator
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
- September 29, 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
Next step: turn these figures into a late rent notice for the tenant.
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.
Late rent notice builder
Before you send it: this builds a reminder letter about overdue rent and a late charge. It is 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.
[Your name or company]
Date: October 10, 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 September 28, 2026. As of October 10, 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]
How to use the New Mexico rent late fee calculator
- Enter the monthly rent and the rent that is overdue.
- Enter the date the rent was due and the date it was paid, or today if it is still unpaid.
- Choose how the lease sets the late fee (percent of rent, flat amount or dollars per day) and type the figure from the lease.
- Enter the grace days written in the lease.
- Read the late fee, the earliest fee date and the most NMSA § 47-8-15(D) allows, then copy the figures or print a late rent notice.
Work out interest on an overdue B2B invoice under New Mexico law. When the contract is silent, the default is up to 15% — a ceiling, not a fixed entitlement (see the note below) — and the statute is quoted verbatim below.
When no written rate is fixed; courts typically award the full 15% on matured sums from the day the balance is ascertained.
Late fee breakdown
- Interest owed
- —
- Daily rate
- —
- Total (invoice + interest)
- —
Still unpaid? Generate a formal demand letter — it computes the interest and cites New Mexico's statute (NMSA 1978 §§ 56-8-3, 56-8-5, 56-8-9) for you.
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 [...]
Quoted verbatim from the linked official source — not our paraphrase. How we source and re-check every row is documented in the data methodology.
Maximum late fee in New Mexico — written B2B contracts
No statutory cap
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.
Basis: NMSA 1978 §§ 56-8-9(B), 56-8-5, 56-8-21. Compare all 51 jurisdictions in the maximum late fee by state table and cap-regime map.
Rent and invoices follow different laws — consumer debt is not covered
The Invoice tab, the rate card and the statute sections on this page are about business-to-business invoices. Residential rent late fees live in New Mexico's landlord-tenant law. On the Rent tab, NMSA § 47-8-15(D) is checked against your lease figures and quoted in full. Consumer credit has separate, stricter rules. For the rent rule, see New Mexico rent late fee law; the general distinction is explained in B2B invoice late fees vs. residential rent.
Use this data
New Mexico's row — rate, cap, citation, verbatim quote, verification date — is part of our open 51-jurisdiction dataset: CSV · JSON (CC BY 4.0, cite myinvoicetemplate.com). Set late-fee terms on your next invoice with the free invoice generator, or state them clearly using the wording guidance in the payment terms guide.
New Mexico late fee FAQ
Is there a legal limit on rent late fees in New Mexico?
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. Source: NMSA § 47-8-15(D), checked 2026-09-25; the Rent tab quotes it word for word. New Mexico rent late fee law →
How do I work out a late fee on rent in New Mexico?
Enter the monthly rent, the overdue amount, the date the rent was due and the date it was paid, then the late fee in the lease (a percent of rent, a flat amount or dollars per day) and its grace days. The calculator gives the late fee, the earliest fee date, the most NMSA § 47-8-15(D) allows and rent plus fee, and turns them into a late rent notice.
Can I charge late fees on overdue invoices in New Mexico?
Yes — on business-to-business invoices. If your contract or invoice states a late-fee rate, that rate governs (subject to the cap rules below). If nothing was agreed: Up to 15%. When no written rate is fixed; courts typically award the full 15% on matured sums from the day the balance is ascertained. Statute: NMSA 1978 §§ 56-8-3, 56-8-5, 56-8-9, verified 2026-08-19. Consumer and rent debts follow separate laws.
What is the maximum late fee on a B2B invoice in New Mexico?
For a written B2B contract: 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. Basis: NMSA 1978 §§ 56-8-9(B), 56-8-5, 56-8-21. The full cap analysis is on the Invoice (B2B) tab; this covers business-to-business deals only — consumer credit has stricter separate caps.
What interest applies if my contract doesn't mention late fees in New Mexico?
The statutory default rate of Up to 15%. When no written rate is fixed; courts typically award the full 15% on matured sums from the day the balance is ascertained. Statute: NMSA 1978 §§ 56-8-3, 56-8-5, 56-8-9 (verbatim quote on this page, verified 2026-08-19).
Where does this data come from, and when was it verified?
Every invoice-interest figure on this page comes from our 51-jurisdiction dataset: each row researched against the controlling statute or the state's official current-rate page, independently re-checked, and stamped with its own verification date — New Mexico's row was last verified 2026-08-19. The operative legal text is quoted verbatim on this page with a link to the official source, the methodology is public, every verification pass is logged in the changelog, and the full dataset is downloadable (CC BY 4.0). For rent, the Rent tab quotes NMSA § 47-8-15(D) word for word, links its source and gives the date it was checked (2026-09-25).
Not legal advice. This page summarizes NMSA § 47-8-15(D) and New Mexico's commercial-interest statute for general information, with the verification date shown above — it tells you when we last confirmed the figures, not that they are still current today. Statutes change and courts interpret them; verify the cited statute at the official source, or ask a licensed attorney in your state, before charging a late fee or demanding interest.