Renting creates its own benefits, because it creates mobility and allows someone to offset the short term risk of ownership that discourages flexibility. As it stands, I have no idea on how the law works if I renovate my house to become a duplex that I then sell.
Also how is this encouraging? Street people in my home and I can't charge them for a price that I want? Even though it's my own home!
At least a higher rent could keep the undesirable one's out of the neighborhood. But no, this forces everyone to let them move in. It's that or now everyone else that's hard working and owns a home now has to pay higher taxes for simply refusing the dregs of society
You can charge whatever rent you want, the scalar is to the tax-break so that it doesn't allow runaway rent-seeking. The goal is that you are able to rent and use the income to help you eventually own the property outright to do with as you will.
If we create a system where the renter pays more than the mortgage, it just shuttles wealth upwards, which is something you don't want. My system allows wealth to accumulate at the average household level with a win/win to increasing housing. (You want to encourage the development of additional housing units that rewards the individual family. Obviously, no system is perfect, and wealth must always compound to encourage diversified savings. But there's no need for wealth to easily compound at rates that damage the economy.)
Right now, any home is capable of renovating to make it easier to rent out some of the property. We want to increase this ability without causing other harms.
There is nothing in my proposal that would force you to do this.