I think to be fair, if the state isn’t going to give special, favorable rights to renters in this way, then it should also not give special, favorable protections to property owners that prevent the construction of anything new nearby. In order for this contract to work, it’s going to have to be legal for people to build more housing in productive, desirable cities.
This, too, is an expression of property rights. The government should not unduly constrain your right to build something on your own private property.