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Rent & Refundable deposit on flat

Question date:   27th August 2012
From:   Sayeed
Short URL:   http://qa.muftisays.com?4182
Notes:   No Notes
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.

Answer

Ulamaa
Ulamaa ID 04

Answer last updated on:
11th September 2012
Answered by: Ulamaa ID 04

Website
Location: London

 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.

--------------------------------------
Moulana Qamruz Zaman
London, UK
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