Question
We own a rental property that we lease out to tenants. We have a problem with some of the tenants not paying their rent on time. Is it Islamically permissible to charge a late fee for rent that is late?
Answer
It is permissible to rent out property to others. However, stipulating that a late fee must be paid in the event of a failure of the lessee to make a timely payment is unlawful.
Such a late charge would be a form of interest. The unpaid rent is effectively a debt owed by the lessee to the landlord. In Islamic Law, a debt that is owed by someone can neither be postponed for a higher amount nor penalized with a fee.
And Allah knows best.
Such a late charge would be a form of interest. The unpaid rent is effectively a debt owed by the lessee to the landlord. In Islamic Law, a debt that is owed by someone can neither be postponed for a higher amount nor penalized with a fee.
And Allah knows best.
-islamtoday.net
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