A. No political subdivision or any home rule municipality shall enact an ordinance or resolution that controls or would have the effect of controlling rental rates for privately owned real property.

lease

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Terms Used In New Mexico Statutes 47-8A-1

  • Contract: A legal written agreement that becomes binding when signed.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

B. This section does not impair the right of a state agency, county or municipality to otherwise manage or control its property.

C. The provisions of Subsection A of this section do not apply to privately owned real property for which benefits or funding have been provided under contract by federal, state or local governments or a governmental instrumentality for the express purpose of providing reduced rents to low- or moderate-income tenants.

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