What does the New Mexico Uniform Owner-Resident Relations Act (NM-UORRA) define?

The New Mexico Uniform Owner-Resident Relations Act (NM-UORRA) is specifically designed to establish the laws and guidelines pertaining to the relationships between property owners (landlords) and their tenants (residents). This legislation outlines the rights and responsibilities of both parties, addressing issues such as lease agreements, security deposits, maintenance responsibilities, and procedures for eviction, among other important aspects.

By defining these relationships, NM-UORRA aims to foster a fair and equitable environment in rental housing, ensuring both owners and residents have their rights protected and their obligations clearly stated. This legal framework helps to mitigate disputes and clarify the expected standards of behavior for both landlords and tenants.

While the other options provided pertain to relevant aspects of real estate and property management, they do not directly relate to the NM-UORRA's focus on owner-resident relations, reinforcing why the correct interpretation is centered on the regulations governing these interactions.