As an economist, I generally don’t support the rent control system because it sets a price selling below the market equilibrium rent which means the quantity of housing demanded exceeds the quantity of supplied. In addition, it means tenants who can afford to pay higher rents may occupy rent controlled apartments while those who need maybe unable to find housing.
According to “The Effects of Rent Control on Housing Markets" by Edward Glaeser and Erzo Luttmer, conclude that while rent control may provide short-term relief for some tenants, it ultimately harms the housing market and reduces the availability of affordable housing in the long run.
In the end, the idea of control system to make the housing more affordable, the economic consequences often lead to reduced housing supply, lower quality, and inefficiencies in the market.