Hull University Union wants at least 1,500 students to add their names to a petition to tilt the balance for a debate on introducing article 4 directions.
Article 4 directions allow the council to require landlords to seek planning permission before opening a new HMO in the city.
The rules apply to small shared houses with three to five tenants favoured by students.
The union fears bringing in the direction will force up rents in the city and lead to some landlords switching shared homes to single family lets, which will reduce the number of private rented homes available for students.
Students also fear the move would impact on local businesses as they will lose custom if students are forced to live in other neighbourhoods.
Brittany Tomlinson, the union’s vice-president for welfare and community, said: "The students in this city feel proud to call Hull home and the students' union fosters a sense of community in our students from the moment they arrive on campus.
"It is disappointing that councillors are jeopardising the significant economic and cultural benefits that students bring to this area and worrying to see that they are choosing to waste council resources on this politicised legislation."
An earlier petition fell short of the total number of signatures needed to force the debate – collecting 918 names.
A new petition is open and has 40 signatures
Hull City Council already runs one article 4 declaration in the city’s Newland neighbourhood, but is meeting in September to consider extending the scheme to two more areas.
Landlords with small HMOs in neighbourhoods subject to article 4 declarations are deemed to have planning permission on the day the declaration takes force.
Large HMOs planning restrictions are unaffected by the directions.
