New Mexico has more than 500 self-storage facilities, serving a statewide population of 2,090,000. The New Mexico Self Storage Association has helped spearhead several changes to lien laws in New Mexico but some priorities remain.
In 2015 the NMSSA was successful in our efforts to remove outdated and archaic lien laws from the books. For example, operators were once required to send official correspondence by certified mail, a process costing an excessive amount of both time and money. Siding with the industry, and the recognition that more modern methods are available, the state legislature of New Mexico agreed that certified mail was no longer the most assured method of guaranteeing contact with a delinquent customer, now allowing verified mail and in some cases, email notifications.
Other recent changes include the ability to charge $20 or 20 percent in late fees, whichever is greater, contractual value limitations and simpler methods for disposing of a vehicle in a lien situation.
The NMSSA is ever vigilant in protecting the industry from unnecessary laws or regulations. If you have questions or concerns regarding the industry’s relationship with the government, please feel free to contact us.
Please reach out to us if you have an issue or want to notify us about an issue within the self storage community.