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>If you are going to do this, it needs to be paired with price controls on rental housing. Otherwise the expense is passed on and becomes a de facto regressive tax on (usually poor) renters.

I would expect a jurisdiction progressive enough to have a scheme as previously described to also probably have rental price controls/subsidies/etc to assist with high rents. That said, the market price for a rental will be what it is. Landlords charge exorbitant rents because people pay them.

If the landlords' taxes cause their cost basis to be too high to make the rent hit the market, the landlords will get out of the market. Which is kind of the whole goal.