i am a resident of bangalore,India. I want to take up the residence on rent.here it is customery to give around 10 months of rent or 1 lakh as a deposite and some market price amount as rent. for example case it is suppose 1 lakh deposit and 7000 rs rent. But i go and talk to some landloard talk about his house on rent but he needs more money for business purpose so he says to me that he will give to person who will give him 4 lakh deposit and 500 rent as monthly for duaration of 2 years(or another configuration 3 lakh as deposit and 2000 as rent )(Because he says he can earn more money by more deposit then getting incresed rent). Is it permissible to take up this house on either of these configuration ? i ask people some body says it is permissible and somebody strictly prohibit and says it is trickey and form of interest(riba).i am confused pleae tell me in light of sunnah and quran ?
In the name of Allah, Most Gracious, Most Merciful
Assalaamu `alaykum waRahmatullahi Wabarakatuh
Please clarify whether the money deposited to the landlord will be returned to you upon the termination of the contract or is the deposit similarly to an advance payment (down payment) where it comes in the ownership of the landlord.
We will be able to give an appropriate ruling after receiving this information.
And Allah knows best
Wassalam
Mufti Ebrahim Desai
Darul Iftaa, Madrassah In’aamiyyah