I believe that if rent controls were removed, we would return to the day of landlords gouging tenants. It is the only policy in place to stop the landlord from raising the rent to whatever they please, whenever they want.
Landlords have a process to follow if they have a legitimate need for an extra increase. If they can prove they actually are using the increase correctly they can get an extra amount. They SHOULD have to justify this. If they are making expensive improvements to the building and need the extra money and the tenants will benefit or are they just trying to get something past the Board? They should need to prove there is a difference.
Landlords using the excuse that rent controls hurt everyone because buildings will not get built is not true. New buildings have not been getting built for years. New construction has been on a steady decline for thirty years; even before rent control came into effect. Every government that comes into power promise to build more housing, especially low income housing. I have yet to see those promises come to fruition.
Landlords keep saying that rent controls will drive them out of business - they cannot afford to do repairs, etc. If it was not profitable, they would not be doing it. Real estate is still one of the safest investments out there.
A lot of tenants are already paying over the 35% threshold of what is recommended for household expenses. If rent controls were removed - tenants would have no protections, and very few options available.