Rent controls are not crony capitalist, they hit landlords. Unfortunately they also defy economic logic.
With controlled rents, builders will not build new rental housing. As supply falls further and further behind demand, rents will go up one way or another. Maybe renters will have to bribe landlords with gifts of new cars to get a space? This new law is a quasi rent control in that it still allows rent increases of 7% a year over Consumer Price Index. Will be interesting to see what happens.