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We need less government, not more, especially the federal government. Because what works in New York City would be inappropriate for Reno or Kalamazoo. That is the reason we have state laws on property management. I understand that there is abuse of the system but, that abuse goes both ways. If you are going to control what the private sector may charge in rent, then there need to be consequences for renters who abuse the system. Such as all the relief funds received during the Covid pandemic that should have gone to pay rent but didn't. They bought TVs, electronics, and even cars with the money. Because they knew that we could not evict for non-payment of rent. We had tenants owing us anywhere from ten thousand to over twenty thousand dollars by the time the moratorium was lifted. What did they do when the suspension was lifted? They moved out. That loss isn't even going on their credit. Now you want owners of rental properties to accept lower returns on their investments because residents are crying poor. I have lived within my means all my life. Paid my bills mostly on time. (I paid hefty interest charges and late fees when I didn't.) I went without the latest and greatest because it didn't fit my budget.
In conclusion, we need fewer regulations on investments and more restrictions on those that live on handouts.