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Rent & Refundable deposit on flat

Last updated: 27th August 2012
Question ID: #4182
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We own a flat in India with a market value of 5 Million Indian Rupees(INR). Are we allowed to rent it out to a tenant for a period of 1 year with the following contract - 1. Rent INR 10000 per month 2. Parking & Maintenance INR 2000 per month 3. Refundable security deposit INR 1 Million.


Bismillah



Al-jawab billahi at-taufeeq (the answer with Allah's guidance)





There should be no problem in this contract, as long as there are no interest-based dealings involved i.e. in paying the rent, refunding the security deposit with interest to the tenant at the end of the tenancy etc.





And Only Allah Knows Best.
Mufti
Answer last updated on:
11th September 2012
Answered by:
Ulamaa ID 04
Website
Location: London
Mufti Qamruzzaman

London, UK