House Rental With Upfront Deposit
I am Mohamed Ayaz from Bangalore India working in Jeddah Saudi Arabia.
My question is regarding Mortgage
It’s trend in my place and around to let house under mortgage for period of two/three years on condition that the occupants has to pay certain mutual agreed amount ,(happens to be more than 11 months advance amount) and monthly rent amount would be very low comparing to actual rent amount. After completing the fixed tenure the owner return the amount he had received before from occupants. The owner gets only the rent amount in this period.
My question is, Is it permissible in Islam to deal in above condition or it comes under Ribah.
Thank you for your clarification.
Sponsor Ask Ghamidi
The discussion "House Rental With Upfront Deposit" is closed to new replies.