N.M. Admin. Code § 16.61.24 § 13
MANAGEMENT AGREEMENTS
Operative Text
A. There shall be a signed written management agreement between the brokerage and the owner for each property managed. The agreement shall be executed prior to acting on behalf of the owner and shall specify the brokerage relationship. B. The agreement shall define the duties and responsibilities of the brokerage and the owner including, but not limited to, the following: (1) duties to be provided by the brokerage; (2) disclosure of all fees to be charged to owner; (3) disclosure of all fees to be charged to tenant that are retained by the brokerage; and (4) a question asking the owner to disclose the status of any foreclosure or other financial situation that could affect the tenant’s occupancy. C. If the property manager is prohibited by law or contract from providing the owner with a given document, such as a tenant’s criminal background check or credit report, the property management agreement shall include the following: (1) a written disclosure to the owners that the property manager is prohibited by law or contract from providing such documents to the owner; or (2) the owner’s written consent that such documents will not be provided. D. The qualifying broker shall include with every written residential management agreement a copy, either in hard copy form or electronically, of the New Mexico Uniform Owner-Resident Relations Act. The qualifying broker shall obtain separate written confirmation from each client that the client has received such a copy of the act. The qualifying broker shall make this confirmation available to the New Mexico real estate commission if requested. E. Before the brokerage transfers any management agreement to another brokerage, both the qualifying broker assigning the contract and the qualifying broker receiving the contract shall execute an assignment of contract. Because the management agreement is a personal services contract, the qualifying broker must have the property owner’s written consent to assign the contract to another brokerage. If there is no assignment of contract, the qualifying broker receiving the contract must execute a new management agreement. [16.61.24.13 NMAC - Rp, 16.61.24.13 NMAC, 1-1-2012; A, 1-1-2017; A, 1-1-2019]
NMAC 16.61.24 § 13 establishes that every property management relationship in New Mexico must be grounded in a signed, written agreement executed before the brokerage takes any action on the owner's behalf. The agreement must spell out each party's duties, disclose all fees charged to both the owner and tenant, and ask the owner about any foreclosure or financial situation that could affect a tenant's ability to stay in the property. Additionally, the qualifying broker must provide every residential management client with a copy of the New Mexico Uniform Owner-Resident Relations Act and obtain written confirmation of receipt, and any transfer of a management agreement to another brokerage requires the property owner's written consent.
Plain English — not legal advice.
Under NMAC 16.61.24 § 13, property owners working with a brokerage can expect to receive a written management agreement before any management activity begins, with all brokerage fees—including fees charged to tenants that the brokerage retains—clearly disclosed within that document. Compliant brokerages also provide owners with a copy of the New Mexico Uniform Owner-Resident Relations Act and collect a separate written acknowledgment of receipt. Owners should also be aware that if their management agreement is ever transferred to a different brokerage, their written consent is required before that assignment is valid.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
NMAC 16.61.24 § 13 requires that any fees charged to tenants and kept by the brokerage be disclosed in the management agreement between the brokerage and the property owner, giving tenants an indirect layer of fee transparency. The provision also requires the management agreement to include a question prompting the owner to disclose foreclosure or financial circumstances that could affect a tenant's occupancy, which may be relevant if a tenant faces unexpected displacement. Tenants who believe these requirements have not been followed may consider contacting the New Mexico Real Estate Commission, consulting a tenant-rights organization, or raising the issue as part of a broader housing complaint.
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.
Effective Timeline
References Out
No outbound references recorded yet for this provision.
References In
No inbound references recorded yet for this provision.