I'm not sure that renting at a rent controlled price counts as personal use.
The IRS states, "A fair rental price for your property generally is the amount of rent that a person who is not related to you would be willing to pay. The rent you charge is not a fair rental price if it is substantially less than the rents charged for other properties that are similar to your property in your area."
Here, I would interpret "other properties that are similar to yours" to include "other properties under rent control." I don't think rent control means you have to consider the property as person use or "under market value" since the market is determined by the rent control law instead of the fair open market.
@Anonymous_
@Carl
What do you think?
