What does 'rent control' refer to?

Rent control refers to government regulations that limit the amount landlords can increase rent for residential properties over time. These laws are typically implemented to protect tenants from sudden, substantial rent increases that could make housing unaffordable. By capping the allowable rent increases, rent control aims to ensure that housing remains accessible and stable for tenants in various economic conditions.

In jurisdictions with rent control, landlords are required to adhere to the established limits when renewing leases or adjusting rent for existing tenants, providing a level of security for renters against market fluctuations. This system supports long-term housing stability, especially in densely populated or high-demand areas where the cost of living can rise dramatically.

The other options do not align with the definition of rent control. Private agreements between landlords and tenants may include specific rental terms, but they do not have the same regulatory force as government-issued rent control measures. Market-driven pricing reflects the unrestricted dynamics of supply and demand in the rental market, while discounts are voluntary incentives offered by landlords rather than enforced regulations. Therefore, understanding rent control is crucial for recognizing its impact on the rental market and tenant rights.