Landlords charge more because people are still showing up to the open-house to rent. So of course they would increase rent. What you're describing is supply and demand. We lack supply. You can be sure the rent would go lower if nobody was at the door asking to rent their place. In fact, that's exactly what's happening right now with rent price in Toronto. Immigration is slowed, airbnbs visitors are gone and supply is up. Price are going down.