What is the purpose of “rent control” laws?

Rent control laws are designed to limit the amount landlords can charge for rent or increase rent on a regular basis. This is intended to protect tenants from excessive rent increases that may make housing unaffordable, ensuring that rental prices remain within a range that is manageable for tenants. These laws often aim to provide stability in housing costs, especially in areas where housing demand may outpace supply, leading to rapid and unsustainable rent increases.

The purpose is to create a balance between the rights and needs of tenants and landlords. By imposing limits on rent increases, these laws help to prevent displacement of tenants due to financial pressures and promote more equitable access to housing. In essence, rent control acts as a safeguard for renters, ensuring they can afford their homes even as economic conditions change.

When considering the other options, increasing property values isn't a goal of rent control; in fact, strict rent control can sometimes lead to decreased property values over time as investors might shy away from areas with heavy regulation. Assisting landlords in raising rents annually contradicts the very nature of rent control laws, which aim to restrict rent increases. Lastly, rent control does not inherently simplify the leasing process. In fact, it can sometimes complicate matters with regulations that both tenants and landlords must navigate.