Nothing too unexpected here. Eviction moratoriums for over a year, tenants stop paying even if they have money, so small landlords sell out. Some properties are bought by owner occupants, reducing the amount of rental housing and resulting in an increase in rents. Or equity funds buy, renovate properties, and raise the rents.
Whenever government meddles against market forces, there are unintended consequences. Though in this case, the consequences were entirely foreseeable by anyone with a basic understanding of economics.