COVID-19 Rent Moratorium will not incentivize housing creation and will have a net negative impact on all rental properties. Therefore, Los Angeles Department of Housing needs to create a rent subsidy program instead of putting everything on the backs of rental property owners. Bad housing policy harms lower-income people most.
A reason economists overwhelmingly oppose rent controls is that they always have unintended consequences. Rent controls are the opposite of minimum wage laws. Where minimum wage laws are price floors, rent controls are price ceilings.
Economic theory is pretty clear about what the effects of a price ceiling will be. Price ceilings prevent a price from rising above a certain level. When a price ceiling is set below the equilibrium price, quantity demanded will exceed quantity supplied, and excess demand or shortages will result.