IS IT HARAAM OR HALAAL THE HIGHEST INCREASE IN HOUSE RENTS.
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HARAAM OR HALAAL THE HIGHEST INCREASE IN HOUSE RENTS IN
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Increase in house rents
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Respected brother, Shariah Law has not laid down the maximum or minimum amount, or the percentage of increase one may charge as rent to the lessee.but rather Islam has allowed the price of a commodity or service to be set by the market principles of supply and demand.
Under normal market conditions and situations, the landlord is well within his rights in Shariah to demand a rent or an increase in the rent according to the fair market principles of supply and demand.and the lessee is well within his rights to accept to pay the rent or the increase in rent, or find another premises for himself to stay or work.
Islam guides towards fairness and justice towards both parties; neither the landlord should take advantage of the condition of his tenant and demand a rent which is substantially higher than the market rates, nor should the tenant take advantage of the condition of the landlord and offer him an unfair rent which the landlord is not willing to accept.
If the governing authority of the land one lives in fears that the increase in rents would cause severe inflation, or substantially increase the cost of living in their nation and thus undue hardship to its citizens, it is well within its rights to enact and enforce a law whereby the landlord is only allowed to increase a particular percentage of the rent each year.
Whatever written of Truth and benefit is only due to Allahs Assistance and Guidance, and whatever of error is of me alone. Allah Alone Knows Best and He is the Only Source of Strength.
Your brother and well wisher in Islam,