San Francisco City Hall officials are deliberating on proposed regulations to short-term housing rental companies such as Airbnb.
The city's Budget & Legislative Analyst office released a new report revealing that Airbnb listings have been responsible for the removal of 925 to 1,960 units from the housing market citywide, garnering mixed reviews.
City Hall official David Campos is advocating for government agencies to regulate short-term housing rental companies more closely, SFGate reports. The main concern is over the report's findings demonstrating that hosts are able to boost profits by using sites like Airbnb rather than using long-term leases.
Others like Mark Farrell, however, are more skeptical about the data presented in the report. Airbnb officials have also criticized the report and efforts to impose more regulations on the industry.
"This comes from the same people who want to ban new housing in the Mission, ban home sharing and make San Francisco more expensive for middle-class families," Airbnb spokesman Christopher Nulty told SFGate.
"Home sharing is an economic lifeline for thousands of San Franciscans who depend on the extra income to stay in their homes."
Airbnb was founded in 2008 in San Francisco.
