Has anyone consulted with immigration lawyers before renting one’s house/condo while on H1B? Even though the laws don’t forbid it outright, they don’t say it is ok explicitly as well.
Almost everyone I know does it. Rental income and capital gains are the only practically possible income sources in H1B.
Rental income is not same as self employment, it is just a passive income. As long as ur eligible to file taxes(as legal immigrant), u can own or rent a house
Day trading is definitely allowed. Lots of my colleagues on H1b do it but they also report all gains or losses on their tax returns. Don’t try to evade taxes and you should be fine
I have heard few cases where people hire a property manager to get “work “ done on rental property so your rental income is purely passive... but I too feel it is taking too far
Just hire a lawyer. Your company probably provides one for free but if you’re contentious about being on the right side of the law, it’s best to get professional advice. Anecdotes and “but judge everyone else is doing it” don’t count in court.
I did talk to them. They say they are not able to give legal advice on non-work related things. I pressed them for a personal opinion. As expected, they took the safe route and said it is not advisable to rent.
Always get your own lawyer for such issues.
Why would you need to consult with immigration lawyers if you want to rent your home? What does renting have to do with immigration law?
You’re earning money, which may be considered work. For example, day trading is also not allowed. You can only work for your employer. That said, passive income like long-term rental property is okay. Running an airbnb is not.
As Marijuana said, you are only allowed to earn income by working for your employer on H1B. Same reason why you cannot drive for Uber / Lyft while on H1b. Doesn’t searching for a renter kind of makes it an active income? I don’t know what is considered passive while renting.