Rent control worked like this in New Jersey way back when: Landlord can't afford to fix buildings, building run down to unliveable state, criminals buy buildings and burn them with the tenants inside for insurance. The Catholic Church is big advocate of rent control because it's knee jerky way to buy good will with their ignorant parishioners and screw with the Jews and Protestants that are invested in the economy. I hate high density housing and rent control. It's what the UN wants for the US though and Democrats have their head right up the UN's backside on all issues...
Rent controls lead to the gentrification of an area and a general decline of property values and demographics. When landlords can't pass on high real estate values/property taxes to renters, they stop building. And buildings that already exist aren't well maintained/expanded/upgraded because the landlord can't get the money back. So things decay and decline. It's a good example of socialist pandering by politicians to their voters who want something for nothing.