Question:
Hi,
I pay my rent of 11,000 shekels on every rosh chodesh in dollars to my landlord who lives abroad. Last month, the dollar was high on rosh chodesh, and I had the money prepared on that day. However, due to technical reasons, I physically paid him three days later when the dollar dropped again, requiring me to add more dollars.
Now, my landlord is requesting more dollars even though I didn’t need to pay that much on rosh chodesh, the day I’m supposed to pay him. I’m wondering if this constitutes ribis.
Thanks
Answer:
Hello,
The amount that you owe the landlord depends on the wording of your rental contract.
If you are obligated to pay him 11k in shekalim, but you are switching it into dollars and sending them to him, then essentially you owe him the equivalent of the 11k shekels, according to the day that you cash it in and send it to him Which would be the rate of a few days after the beginning of the month. (Therefore you would have to give him the extra couple of dollars.)
If however the amount of the rent is a dollar amount, and the dollar amount of that month’s rent depends on the dollar at that time, so then it would be according to the dollar equivalent on the first of the month, or whatever day you are obligated to pay him his rent. In that case you would give him according to the exchange rate of the first of the month, even though you didn’t actually send him the money until a few days later. (Therefore you would not have to send him anything extra.)
Best wishes
