We used to lease land for what grew by the streamlets and for what was watered from them. The Messenger of Allah (ﷺ) forbade us to do that, and commanded us to lease if for gold or silver.
I asked Rafi’ b. Khadij about the lease of land for gold and silver (i.e. for dinars and dirhams). There is no harm in it, for the people used to let out land in the time of the Messenger of Allah (ﷺ) for what grew by the current of water and at the banks of streamlets and at the places of cultivation. So sometimes this (portion) perished and that (portion) was saved, and sometimes this remained intact and that perished. There was no (form of) lease among the people except this. Therefore, he forbade it. But if there is something which is secure and known, then there is no harm in it. The tradition of Ibrahim is more perfect. Qutaibah said: “from Hanzalah on the authority of Rafi’ “. Abu Dawud said: A similar tradition has been transmitted by Yahya b. Sa’id from Hanzalah.