Any law or code of that type would be a local issue. There are few rent control areas in Southern California, and most if not all of them are centered in majore metro areas.
You should go for it.. If the market will bear it. Find out from a friendly realtor or property manager what rents are in your area, or get a rental guide and check it out yourself. Nobody should rent property because it makes them feel good about themselves, you do it to make money and that's the facts.