Final answer:
Rent control is the term for when the rent goes up at periodic, set intervals, and it involves the implementation of price ceilings to limit rent increases.
Step-by-step explanation:
The situation described in the question is known as rent control. Rent control refers to the implementation of price ceilings that limit the amount by which rents can be increased over specific intervals, often annually. These price ceilings are put in place to ensure that rents remain affordable for tenants, particularly in areas experiencing rapid rent increases.