What you’re saying seems incompatible to me. Either they’re rented out at market rate, or their prices are strictly controlled.
How did you end up paying more than comp with a rent controlled unit? That doesn’t make much sense.
How did you end up paying more than comp with a rent controlled unit? That doesn’t make much sense.
If the other renters had been there for many years, they'd still be paying market rate (plus a bit) from years earlier. That could be a lot less than market rate now.
That's why renters in rent-controlled units tend not to move as much - as market rates go up, your rent gets relatively cheaper over time and that's an incentive to stay put.
The rent controlled landlords struggled, and didn't have much, or any, wiggle room for upkeep. (Just look at the Parkmerced saga. The place was a dump, but politics prevented them from fixing it.)
I moved into my rent controlled apartment because it was a good deal; the non-rent-control apartments actually cost more at the time.