Policies & Procedures

UNM Departments Seeking To:

Lease UNM facilities to a Non-UNM Entity

1. Short Term Lease: A short term lease is defined by the University Business Policies & Procedures in Policy 2010 section 4.9.1.1 as a period of six (6) months or less.
2. Location of Space: First space must be available to lease to a Non-UNM Entity, either in your departments assigned area or building, which is not being utilitized by the University.
3. Standard Lease Agreement: Submit to prospective tenant a copy of our standard lease. Click here for the UNM as Landlord Standard Lease Agreement.
4. Preliminary Reviews & Negotiations: If Tenant requires changes to the UNM Standard lease, those changes must be submitted to the Real Estate Department for review by the Director. Once a consensus has been reached between UNM and the Tenant regarding the terms of the lease, it is submitted with a Contract Review form for Final Review.
5. Contract Review Form: A Contract Review form must accompany every lease that is submitted to the Real Estate Department for execution along with two (2) originals of the lease contract signed by the Tenant. Click here for an example of how to fill out the Contract Review form.
6. Final Review: Once all the business terms for the lease are negotiated between the Tenant and UNM, the contract goes through a final review prior to being executed by the University. The Final Review includes review and approval by the following:
1. The Director of Real Estate, Kim D. Murphy
2. University Counsel, Charles "Nick" Estes
3. Director of Purchasing and Materials Managment, Bruce Cherrin, who has signatory authority for all short term lease contracts.

What must be submitted to the Real Estate Department:

1. Contract Review form signed by Department Director/Chair.
2. At least two (2) notarized originals of the lease contract signed by the Landlord
3. Any supporting documents you wish to send (i.e. Grant Approvals, Regents Approvals - if required, PR's, Etc.)
   
   *This process can take 5-10 business days for complete approval. Please be sure to get your contracts in with sufficient time prior to the lease commencement date.

7. Executed Agreement: Once the lease has been signed by the Director of Purchasing and Materials Managment it is returned to the Real Estate Department. Your department will be contacted within 24 hours of receipt of lease by the Real Estate Department.
8. File Copy: One fully executed original will be kept on file in the Real Estate Department. A fully executed copy of the lease will be sent to your department for your files.
9. Lease Renewals: If the lease allows for renewals, the responsibility for sending notice to UNM for the extension falls upon the Tenant. Copies of all correspondence, extensions, renewals, etc. must be sent to the Real Estate Department to be kept on file.
10. Lease Terminations: If a lease must be terminated prior to the ending term of the lease, please contact the Real Estate Department for procedure (505) 277-4620.
    

To Lease Space Off-Campus
Real Estate Policies
Real Estate Standard Forms and Contracts