Oh Gee, let's see...
The rent's too high! Let's see if we can pass a new law that will REALLY muck things up!
Might be time to "Blacklist" that area and let "Nature take it course" as it has done in the past in other areas.
This seems like it will devolve the area for investment attractiveness, which will probably drive the property values down to what the local's who live in the properties can afford for themselves to live in, leaving a certain amount of homes and areas as a wasteland of non-kept-up run-down dumpy homes filled with violent residents (further increasing it's spiral downward into a slum).
Nothing special about that area.
If they Tar and Feather you and run you out of town on a rail, just move on.
The city council does not realize how much worse this will make it. It will get very bad before they realize the error of their ways. I'm glad I am not invested in that market.
Yikes - the new law forces landlords to accept tenants with a 500 credit core! We usually do not accept anyone under 650!