Housing market sees increase of corporate rentals

SAN FRANCISCO (KGO) -- As people in the Bay Area struggle with the housing crisis, San Francisco's Planning Department is warning of an emerging trend.

Hotel operators and leasing start-ups are grabbing apartment units and leasing them out as short-term "corporate rentals."

According to The San Francisco Examiner, the practice is legal.

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The units are advertised for limited stays of 30 days or more, and they are not subject to city's short term rental regulations.

But it takes much needed housing off the rental market.

Operators say stays are on average, six months to a year long.