New Mexico Property Management
Practice Questions & Answers (2026)
Property management questions on the New Mexico exam cover both the practical aspects of managing rental properties and the landlord-tenant law specific to New Mexico. The New Mexico Real Estate Commission tests security deposit limits, required notice periods for entry and termination, habitability standards, and the property manager's fiduciary duties. New Mexico's landlord-tenant law has specific provisions — including notice requirements and tenant protections — that differ from what national study materials cover. These questions often involve scenarios where a property manager must navigate competing obligations to the owner-client and the tenant.
New Mexico Exam Study Resources
Everything you need to pass — in one place.
New Mexico Property Management — Practice Questions & Answers
117 questions on Property Management from the New Mexico real estate question bank. First 10 are free — sign up to unlock all 117.
Q1. A property manager's primary fiduciary duty is to the:
Explanation
A property manager acts as an agent for the property owner and owes fiduciary duties to the owner, including loyalty, diligence, and accounting for funds.
Q2. A management agreement between a property owner and a property manager must include:
Explanation
A management agreement is a contract that must define the manager's authority, compensation, and the term of the agreement, among other key provisions.
Q3. Under New Mexico's Uniform Owner-Resident Relations Act, a landlord who fails to maintain habitable conditions is subject to:
Explanation
New Mexico's Uniform Owner-Resident Relations Act (UORRA) provides tenants with remedies when landlords breach the implied warranty of habitability, including withholding rent, repair-and-deduct, or termination.
Q4. In New Mexico, how many days' notice must a landlord typically give to terminate a month-to-month residential tenancy?
Explanation
Under New Mexico's UORRA, either party must give at least 30 days' written notice to terminate a month-to-month tenancy.
Q5. A New Mexico landlord must return a tenant's security deposit within how many days of lease termination?
Explanation
Under the UORRA, New Mexico landlords must return the security deposit (minus allowable deductions) within 30 days of the tenancy termination and tenant vacating.
Q6. In New Mexico, the maximum security deposit a landlord may charge for an unfurnished residential unit is:
Explanation
New Mexico's UORRA does not impose a specific statutory cap on security deposits for unfurnished residential units (though landlords cannot charge more than one month for furnished). Market practice and fairness govern.
Q7. What is a gross lease?
Explanation
In a gross lease (full-service lease), the landlord pays all property operating expenses (taxes, insurance, maintenance) and the tenant pays a flat, all-inclusive rent.
Q8. In a triple net (NNN) lease common in New Mexico commercial properties, the tenant pays:
Explanation
A triple net lease requires the tenant to pay base rent plus the three 'nets': property taxes, building insurance, and maintenance (CAM charges). This shifts operating cost risk to the tenant.
Q9. A property manager in New Mexico who collects rents must:
Explanation
New Mexico law requires property managers to maintain a separate trust account for client funds (rents, deposits). Commingling client funds with personal or business operating funds is a licensing violation.
Q10. Which document governs the relationship between a New Mexico property owner and their property manager?
Explanation
A property management agreement is the contract between the property owner (principal) and the property manager (agent) that defines the scope of authority, duties, fees, and duration of the relationship.
Q11. A New Mexico tenant who is three days late on rent can be served with what type of notice?
107 more Property Management questions
Create a free account to unlock all 117 New Mexico Property Management questions with full explanations.
Free account · No credit card · Instant access to 25 questions
Ready to take the full exam? Start free.
25 free questions · No signup · Instant access to all New Mexico topics