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Updated over 5 years ago, 09/13/2019

User Stats

54
Posts
18
Votes
Bilal A.
  • Investor
  • Minnetonka, MN
18
Votes |
54
Posts

Can self storage facility owner/operator qualify for REP status?

Bilal A.
  • Investor
  • Minnetonka, MN
Posted

Can a self storage facility owner/operator qualify as a real estate professional if it is their full time occupation, and meet the 750 hour material participation and greater than 500 hour rental real estate activity safe harbor rulse? Has anyone been able to achieve this? 

Also, can self storage facility renting/managing activity hours count towards the real estate professional requirements if one also owns and self manages multifamily or single family homes or is a real estate agent helping people buy and sell homes? 

Thanks in advance for your input!

Bilal

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