Bill > SB267

This bill introduces several new protections for housing applicants and renters in New Mexico. It requires property owners to provide clear, upfront disclosure of all rental costs, including base rent and itemized fees, in their property listings. The bill limits screening fees to $50 and mandates that owners can only charge this fee when a unit is actually available, must provide a receipt, and must return the fee in specific circumstances, such as when a prior applicant is offered the unit or if the owner does not actually process the application. The legislation also requires owners to provide at least 60 days' notice before increasing fees and reduces the maximum late fee from a percentage to a set amount. Additionally, the bill expands private enforcement mechanisms, allowing applicants to recover damages if an owner charges unauthorized fees, and declares certain fee-related practices as unfair trade practices. The bill aims to increase transparency in the rental application process, protect applicants from unexpected or excessive fees, and provide more predictability and fairness in housing rental transactions.

Budget and Finance, Justice

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=267&year=25