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Thread: Owning a Rental Property while on H1B

  1. #1
    Yoda
    Join Date
    May 2011
    Location
    Florida
    Posts
    306

    Owning a Rental Property while on H1B

    I am on H1B. Applied for GC in EB2 - PD 2010.

    I own a townhouse and have recently purchased a SFH and moved there (Primary Residence).

    Can I rent my townhouse while on H1B?
    Is there any issue with GC process?

    I have researched this topic on the internet.

    Mostly the answer is - I can rent it out and file the rent as income in my tax returns. H1Bs are allowed to get passive income such as these.

    However, there are some people, who mention that I have to hire a property management company to manage the rent and property and I cannot do it myself?

    Does anybody have experience in this kind of sitatuation!

    Appreciate any inputs!!

    Regards,
    skpanda

  2. #2
    skpanda - long time no see. This post of yours was picked by SPAM service and hence I found it in Mod queue. Sorry about that.

    Anyway ... but as far as I know - ANYBODY regardless of visa status can do business in US. That includes owning and renting a property.

    I think what you can't do as H1 is - draw salary from that business unless you have H1 approved for your own business. However you certainly can draw profit from that business. Makes sense?
    Quote Originally Posted by skpanda View Post
    I am on H1B. Applied for GC in EB2 - PD 2010.

    I own a townhouse and have recently purchased a SFH and moved there (Primary Residence).

    Can I rent my townhouse while on H1B?
    Is there any issue with GC process?

    I have researched this topic on the internet.

    Mostly the answer is - I can rent it out and file the rent as income in my tax returns. H1Bs are allowed to get passive income such as these.

    However, there are some people, who mention that I have to hire a property management company to manage the rent and property and I cannot do it myself?

    Does anybody have experience in this kind of sitatuation!

    Appreciate any inputs!!

    Regards,
    skpanda
    The purpose of this site is to improve clarity of GC process to help people plan their lives better. Use the info at your risk. None of this is legal advice.
    Please follow the Forum Rules and Guidelines as you participate or view the forum contents. | Forum Glossary

  3. #3
    Yoda
    Join Date
    May 2011
    Location
    Florida
    Posts
    306
    Thanks Q for the quick reply.

    Lot of things have changed in life this year. Had a little boy (1st child) in June. He takes away good part of the day (I have been working from home for the most part of last 1 year.. which helps). As evident from the post.. have been searching for a Single family home to get some extra space for the little one. On top of it I have resumed travel for my work.

    Now things have settled down a bit! So I am back!

  4. #4
    Many congratulations! What's more precious than the little one! Enjoy parenting and all the best finding a suitable nice house.

    Quote Originally Posted by skpanda View Post
    Thanks Q for the quick reply.

    Lot of things have changed in life this year. Had a little boy (1st child) in June. He takes away good part of the day (I have been working from home for the most part of last 1 year.. which helps). As evident from the post.. have been searching for a Single family home to get some extra space for the little one. On top of it I have resumed travel for my work.

    Now things have settled down a bit! So I am back!
    The purpose of this site is to improve clarity of GC process to help people plan their lives better. Use the info at your risk. None of this is legal advice.
    Please follow the Forum Rules and Guidelines as you participate or view the forum contents. | Forum Glossary

  5. #5
    Yoda
    Join Date
    May 2011
    Location
    Florida
    Posts
    306
    Quote Originally Posted by qesehmk View Post
    Many congratulations! What's more precious than the little one! Enjoy parenting and all the best finding a suitable nice house.
    Thanks!

    I already found a home and moved there! My little one loves it! Hence renting out the old home!

    Have a good one!

  6. #6
    No relevant to renting but just read this and thought I should share it here - http://www.cilawgroup.com/news/2012/...source-center/
    So if you want to own a company and work on as H1-B, you still need to prove employer-employee relationship:

    If you own your company you may be able to demonstrate an employer-employee relationship if the ownership and control of your company are different. For example, if your company has a board of directors, preferred shareholders, investors, or other factors that show your organization has the right to control the terms and conditions of your employment (namely the right to hire, fire, pay, supervise or otherwise control the terms and conditions of employment), you may be able to meet this requirement. Some of the evidence you may submit to demonstrate the distinction between your ownership interest and the right to control your employment includes: Term Sheet, Capitalization Table, Stock purchase Agreement, Investor rights Agreement, Voting Agreement, Organizational documents and operating agreements.
    Quote Originally Posted by qesehmk View Post
    skpanda - long time no see. This post of yours was picked by SPAM service and hence I found it in Mod queue. Sorry about that.

    Anyway ... but as far as I know - ANYBODY regardless of visa status can do business in US. That includes owning and renting a property.

    I think what you can't do as H1 is - draw salary from that business unless you have H1 approved for your own business. However you certainly can draw profit from that business. Makes sense?

    NSC - EB2I | PD: Sept, 2007 | RD: 03-Nov, 2011 | ND: 08-Nov, 2011 | FP Notice: 10-Dec,2011| FP Done: 30-Dec,2011
    EAD/AP(Approval Email): 09-Dec, 2011 | EAD/AP(Physical Card): 15-Dec, 2011
    GC(Approval Email): 27-Jan, 2012 | GC(Physical Card): 01-Feb, 2012


  7. #7
    Hi

    I am in exact same situation as you were 6 years back! I wanted to check with you if you had any issues with H1 renewal, EAD or GC. Appreciate your feedback and advice.

    Thanks,
    Abhi


    Quote Originally Posted by skpanda View Post
    I am on H1B. Applied for GC in EB2 - PD 2010.

    I own a townhouse and have recently purchased a SFH and moved there (Primary Residence).

    Can I rent my townhouse while on H1B?
    Is there any issue with GC process?

    I have researched this topic on the internet.

    Mostly the answer is - I can rent it out and file the rent as income in my tax returns. H1Bs are allowed to get passive income such as these.

    However, there are some people, who mention that I have to hire a property management company to manage the rent and property and I cannot do it myself?

    Does anybody have experience in this kind of sitatuation!

    Appreciate any inputs!!

    Regards,
    skpanda

  8. #8
    Yoda
    Join Date
    May 2011
    Location
    Florida
    Posts
    306
    Hello... I have been renting my townhouse and managing it myself for last 4 years. Filing as rental income in tax returns. No issues in any immigration related stuff.

    Good Luck!

    Let me know if you need any additional info.

    Regards,
    Skpanda


    Quote Originally Posted by abhi2017 View Post
    Hi

    I am in exact same situation as you were 6 years back! I wanted to check with you if you had any issues with H1 renewal, EAD or GC. Appreciate your feedback and advice.

    Thanks,
    Abhi

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