The latter group can unionize like the tenants union of Washington[1]. Unions can lobby on the behalf of their members and make campaign donations based on their dues. While their power may not be as great as the amount of individual homeowners who can independently donate a union is a good mechanism here for renters to advocate for affordable housing. Here in Seattle there are multiple unions that have lobbied to local city council members for increased tenants rights such as 6 month notice for increase in rent[2]. _Things_ are being done about the problem at the local level across the country through unionization of renters and workers.
[1]: https://tenantsunion.org/ [2]: https://council.seattle.gov/2021/09/27/sawant-congratulates-...