City officials in San Francisco have confirmed that Related Companies has asked for approval to convert 40 apartment units at its 40-story luxury apartment tower at 1550 Mission to intermediate length occupancy (ILO), which would allow the company to seek corporate housing rentals.

Corporate rental units, which generally are offered for a term of more than 30 days but less than a year, were a hot commodity in San Francisco before the pandemic hit—until the city passed a law in 2020 aimed to discourage Airbnb rentals from being used as illegal corporate rentals.

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