No one complained about 50% increase prior April, because no landlord in the right mind would ask and could fetch such price. The above guideline increase was the best and most efficient deterrent against tenants from hell. A balance was achieved and rent was cheap. Now the burden falls on self-use and it's also being closed, per Sept 1st rule change. There should be yet another rule change because the previous two weren't potent enough, and let's guess what happens to rent again.
Because the rule change was unilateral on property owners, and the rule offered no other countering & compensating weight. Now a new balance must be discovered.
Effectively, govt took all recourses from landlord against damages and misbehaviors, the only factor that still can adjust is price and the direction is up.
Now market is doing the adjusting while both supply and credit is tightening. So the optimal outcome is achieved, higher price, less choices and no one is left unpissed. Don't forget about first time home buyers, everything doubled in price per April rule change.
For rent to come back down, either supply has to go up dramatically within small time frame, or LTB must allow swift compensation for damages.
Personally, I don't think supply is that tight, high quality supply maybe tight but the older rentals could also be fixed up to meet current standards.
None of that will/can happen because the most profitable thing to do is now is sell even more condos, not retrofit or lease. We know from the 80's what happened after the bust. And we are just repeating what we just forgot.