[ovi256]

At a maximum 5% increase per year, it takes 37 years for a $500 unit to catch up to the $3000 market price. So this law doesn't help that much with that particular case.

[moccachino]

I think the example was that this law will not create such a scenario, in the way that previous rent control schemes have.

The example given is of a 500% increase in rent, by definition no rent control law should make such an increase possible in a short time frame.

[eru]

Some reasonable law might allow that.

Eg a law could allow any increase up to some benchmark, and up to 5% per year when above the benchmark.

(No clue whether that would be a good idea or not.)