Who owns the apartments and the building? Is rent stabilization a conservative/republican idea or principle?
Of course rent control is not a conservative principle. But here we have people so obsessive over Mr. Trump, they will argue any position which is opposite Mr. Trumps interests and positions.
Rent control is big local government. Rent control is a city like NYC, of Lost Angeles, or Santa Monica essentially "taking" the owners right to income from his/her property.
No serious conservative argues such positions, unless they are not really conservative, are obsessed with Trump.
In the real world owner of property will seek to void, change the rent control, whenever possible. That is just reality, not internet forum real estate for elections.