I just found the problem.
Zactly
What of contracts were held to this standard, even though the cost of goods continues to rise you are bound by terms you have no power to alter because the givernment has decided what you and your property are worth and places their limits on you
Ding! Rent controls have several adverse effects.
1. Why maintain the property? It’s not earning much. You may not even be able to maintain it if the rents are way way low because you have long time tenants locked in at now ridiculously low rents.
2. Why build rental property if you can’t earn a decent return thanks to rent controls? The result of this is a housing shortage.
3. You give landlords every incentive to try to get rid of long-standing renters so they can charge something approximating market price.
Blame the idiot legislators who imposed rent controls in the first place.