It sounds wonderful at first, but go deeper. We will end up with a shortage of available rentals. Rent control will make it worse. It has already happened in several California communities with rent control.
First, rental homes will be sold as the rent will not cover the increasing costs of taxes, insurance, and repairs. Once sold, rental homes will then be owner-occupied.
Second, there will be no incentive for developers to build rental units. They are developers, not rental companies.
Third, existing apartment buildings may be sold as condos and will be owner-occupied.
No experienced person will buy a home with the intention of renting it. Costs of maintaining rentals would increase—taxes, utilities, insurance, and repairs will no longer be covered by controlled rent.
Think of potatoes. If there is price control, farmers will plant something else. So no potatoes for supper. Same with rentals. Owners will sell and invest elsewhere.
So think this through before you vote. We already have a rental housing shortage.