Price controls on rents are frequently implemented by governments in an effort to protect renters from high housing prices. Differentiate the type of price control used from other potential price controls, and then formulate reasons as to why governments should be careful when implementing these types of controls.two sentences
Rent control is a specific type of price control that focuses on regulating the amount landlords can charge for rental units. Other potential price controls may include price ceilings or subsidies. Governments should be careful when implementing rent controls because they can lead to unintended consequences such as reduced investment in rental property maintenance, decreased supply of rental units, and potential disparities in access to housing.
