I couldn't agree more. Rent control originally proposed for these on fixed salary growth (teachers, firemen, etc.) is turned upside down when the inhabitants are not constrained by these caps. That being said the rules of the game are clear and defined on signing of the lease ( by both parties), and property owners are constrained (and game) these rules as much as the tenants. Having an updated provision that allows both parties to win from a conversion makes for amicable relations. I love my rent controlled apartment,but let's face the facts the contract and governance is clear and I could end up with the same situation. I would be more inclined to be bought out of my position giving up my under market rent giving the landlord the option to try for greater revenue. Win win