N.M. Admin. Code § 16.61.24 § 12
REPORTS AND DOCUMENTS TO OWNERS
Operative Text
A. Owner statements. The qualifying broker shall provide the owner with a report of receipts and disbursements monthly or as required by the management agreement, showing the following: (1) previous balance; (2) funds deposited by category; (3) funds disbursed by category; and (4) ending balance. B. Additional reports may be provided as set forth in the property management agreement. C. Documents. Fully executed copies of the management agreement shall be provided to the owner after obtaining all signatures. Signed leases or other documents related to the management agreement shall be provided to the owner upon request, except for documents that the property manager is prohibited by law or contract from disclosing, which may include but are not limited to criminal background checks and credit reports. D. Final statement after termination. Final accounting of trust account or custodial account funds shall be provided to the owner within 60 days of the effective date of termination of a management agreement. [16.61.24.12 NMAC - Rp, 16.61.24.12 NMAC, 1/1/2012; A, 1/1/2014; A, 1/1/2019; A, 1/3/2021]
Under NMAC 16.61.24 § 12, qualifying brokers managing residential or commercial property in New Mexico are required to keep property owners regularly informed about their accounts and documents. At minimum, owners must receive monthly financial reports showing previous balances, deposits, disbursements, and ending balances, and they are entitled to receive fully executed copies of the management agreement and signed leases upon request. When a management agreement ends, the broker must deliver a final accounting of all trust or custodial account funds within 60 days of the termination date. Certain documents, such as tenant credit reports or criminal background checks, may be withheld if disclosure is prohibited by law or contract.
Plain English — not legal advice.
Property owners working with a qualifying broker in New Mexico can look to NMAC 16.61.24 § 12 to understand what financial reporting and documentation they are entitled to receive. A compliant broker generally delivers monthly statements itemizing prior balances, deposits by category, disbursements by category, and ending balances, and promptly provides fully executed management agreements after all parties have signed. Owners also typically request signed leases or related documents at any time during the management relationship, and upon termination of the agreement, they should expect a final trust account reconciliation delivered within the 60-day window the rule establishes.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
While NMAC 16.61.24 § 12 is primarily directed at the relationship between property managers and property owners, tenants may find it relevant to understand how their lease documents and certain personal records are handled. The provision specifies that signed leases must be made available to the owner upon request, but it also recognizes that documents like credit reports and criminal background checks may be protected from disclosure under law or contract. Tenants who have questions about how their personal information is being shared or retained by a property manager may wish to consult a tenant-rights organization or review applicable New Mexico privacy and landlord-tenant statutes for further guidance.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated October 26, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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