A well-known Bay Area lawyer, who also happens to be a significant commercial landlord, is back in the headlines announcing that he's waiving two months of rent for all of his commercial tenants. Joe Cochett is hoping that it will start a movement among other landlords.
Cotchett is a colorful attorney who takes on some underdog cases, but he’s also a landlord with about 65 tenants in Half Moon Bay. This week Cotchett told his tenants, mostly shops and restaurants, that they wouldn’t have to pay rent for April or May.
“It’s not rocket science. You can’t let those people just go in the economic potty, that’s as basic as I can get.” said Cotchett. “You have to support them. You have to share with them the burden of what we’re all going through.”
Cotchett tells KCBS Radio that this is not only the right thing to do, but it’s also in the landlord's best interest to keep small businesses from going out of business.
“You’re in much better shape a year or two from now if you don’t let tenants go belly up.” said Cotchett.
He said that he hopes that his announcement will be inspiring for landlords across the Bay Area and the state to begin rent forgiveness during this national health and economic crisis. Governor Gavin Newsom has issued a moratorium on evictions.
Renting rules require notification of the landlord in writing no later than seven days after the rent due date if renters are unable to pay. Reasoning can include if renters have lost their jobs, had hours cut, or had to handle child care due to the COVID-19 outbreak.