Why is the Landlord Business Different?

In response to one Regina apartment owner giving their tenants notice of a 70-100% rent increase, the Saskatchewan government is considering a longer rent notice period, currently set at six months. The intent would be to prevent "unacceptable" rent increases, whatever that means.

It's curious that the business of being a landlord is targeted for such regulation, while other businesses are not.

If you own a restaurant, you can set your prices however you want. If you set them too low, you'll lose money and go broke. If you set them too high, you'll lose customers, and go broke. If the cost of bacon, lettuce and tomatoes goes up, you'd better raise the price of a BLT or you'll go broke. If the price to own a restaurant building doubles, you'd better raise your prices or you'll go broke.

The same is true whether you sell groceries, gas, clothing, cars, or diapers. Charge too much, and people won't buy your product. Charge too little, and you won't make any money.

Why are the owners of residential properties singled out for this kind of regulation? In any other business, even if they deal with the necessities of life, companies are free to increase their prices. If they increase it too high, people will stop buying from them.

If a landlord increases the rent too much, tenants will stop renting from them. Tenants will move out. If the owner of the property is willing to risk losing their tenants, how is that different from any other business that decides to raise its prices? If a landlord can charge more rent, and still keep their building full, doesn't that mean that the price is not too high?

Why is the business of being a landlord so different?