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Ask the rabbi Family and Society Banking and Interest

Interest on Rent

Rabbi Chaim Tabasky26 Tishrei 5766
431
Question
I am renting my apartment to Jewish tenants. They have paid me first and last months rent. Can they collect interest payments on the last months rent?
Answer
An advance on rent may be considered a loan, in which case taking interest is ribit and is prohibited. Giving a discount for rent paid in advance could be considered. The details of the contract should be worked out with a competent posek.
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