No county or city, or county or city with a charter form of government may enact, maintain, or enforce any ordinance or resolution which regulates the amount of rent to be charged for privately-owned, single-family, or multiple-unit residential or commercial rental property. This section shall not be construed as prohibiting any county or city, or any authority created by a county or city for that purpose, from:

1. (1) Regulating in any way property belonging to that city, county, or authority;
2. (2) Entering into agreements with private persons which regulate the amount of rent charged for subsidized rental properties; or
3. (3) Enacting ordinances or resolutions restricting rent for properties assisted with community development block grant funds.

(L. 1989 H.B. 602 § 2)