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As a renter, that will absolutely backfire on us. Rent is already expensive as shit, I'm paying almost double for my current place than I was for my last place. Both were single-family homes.
Currently, large corporate landlords are willing to let housing units sit empty vs letting market rates drop. A company with 500 units makes the same amount leasing 400 units at $1500/mo as they would leasing 470 units at $1300/mo and they have less overhead. The realpage software lets them coordinate with all the other corporate landlords without direct communication.
The reason I think this policy would help renters is by making vacant units significantly more expensive and pushing corporate property managers to actually compete rather than sit on vacancies.