Well, one consequence is the complete disappearance of any 1- or 2-year leases in the city.
Morondamie don’t care. Wait until folks stop paying altogether since no evictions will happen. Then the property could be taken by the city and made govt housing.
Once they occupy an apartment, tenants have a "right" to have that lease renewed. I don't think landlords can refuse to renew a lease without cause. Which means that, in practice, the first lease is for as long as the tenant wishes to stay.