Critics of rent control argue that while it aims to protect tenants, it often leads to unintended economic consequences that can exacerbate housing shortages and reduce the quality of available housing.
In New York City, the introduction of rent control in the early 20th century led to a decline in the maintenance and quality of rental properties. Landlords, facing capped rents, had less incentive to invest in upkeep, resulting in deteriorating living conditions for tenants. This phenomenon is supported by studies indicating that rent control can lead to