Property Management
In New Mexico, a commercial tenant's lease expires and they continue to pay rent which the landlord accepts. This creates a:
ANew 5-year lease
BMonth-to-month periodic tenancy on the same terms as the original lease✓ Correct
CTenancy at sufferance
DAutomatic 1-year renewal
Explanation
When a commercial tenant holds over after lease expiration and the landlord accepts rent, a month-to-month periodic tenancy is typically created (unless the original lease specified other hold-over terms) on the same terms as the original lease.
Related New Mexico Property Management Questions
- In New Mexico, what is the purpose of a 'property condition report' used in property management?
- In New Mexico, when a landlord receives a security deposit that exceeds one month's rent for a furnished unit, the amount over one month's rent:
- A New Mexico tenant in a month-to-month tenancy receives a 30-day notice to vacate from the landlord. The tenant's obligations are to:
- In New Mexico, a tenant who 'sublets' their apartment transfers which rights to the subtenant?
- In New Mexico, how many days' notice must a landlord typically give to terminate a month-to-month residential tenancy?
- A New Mexico commercial tenant with a percentage lease pays rent based on:
- Under New Mexico's Uniform Owner-Resident Relations Act, a landlord who fails to maintain habitable conditions is subject to:
- A New Mexico property manager receives a written complaint from a tenant about a rat infestation. The manager's immediate obligation is to:
Practice More New Mexico Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Mexico Quiz →