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Renting Home On Heavy Deposit
Assalamu alaikum bro
I want to ask if it is legal in Islam to take heavy sum for the property and do not take rent for few years until that amount is repaid.
And nowadays people take a home from owner by paying heavy sum and rent the place to someone else and keep the rent and the amount is still intact.
Is these legal in Islam?
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3 Replies
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Renting Home On Heavy Deposit
updated 2 years, 4 months ago
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Replies
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In business matters, the principle is that there should not be any deception or intention to harm. In the above-mentioned case, it is a practice in the market and both parties agree on it. If in the contract it is allowed for the party which obtained the house on rent that it can rent it out, it is fine. If it is not allowed in the contract, then it would be illegal.
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It doesn’t fell into the category of taking interest??
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Interest is only in the matter of loan. Demanding additional payment on loan is interest.
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