Bill > HB442

This bill amends the Mobile Home Park Act to introduce rent stabilization and expand protections for mobile home park residents. The bill first updates definitions to clarify terms like "mobile home" (now explicitly including manufactured homes) and "mobile home park". The key provision establishes rent stabilization rules, limiting landlords to one rent increase per year, with a maximum increase of 3% from July 1, 2025 to June 30, 2026, and subsequently capping annual increases at 5%. The bill also strengthens tenant protections by modifying civil penalties for landlord violations - instead of a flat $500 fine, landlords can now be liable for twice the total monthly rent for each violation. Additionally, the bill declares that violations of certain sections of the Mobile Home Park Act constitute unfair trade practices, giving residents additional legal recourse. These changes aim to provide more stability and protection for mobile home park residents against excessive rent increases and potential landlord misconduct. The provisions will take effect on July 1, 2025, giving mobile home park owners and residents time to prepare for the new regulations.

Business and Industry

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=442&year=25