Latest news with #Abrahams
IOL News
14 hours ago
- Business
- IOL News
One bad tenant can cost you thousands — here's how to avoid that risk
A single bad tenant can cost thousands in unpaid rent, legal fees, and property damage. That's why thorough credit checks are more crucial than ever before. Image: Freepik Landlords who fail to properly vet potential tenants risk handing over valuable assets to people who may default or damage property — and relying on a prospective tenant's word alone is increasingly risky. 'Spending a small amount upfront on these checks can help avoid costly mistakes down the line,' said Michael-Anne Abrahams, bond originator and property finance consultant at MyProperty. She noted that due diligence — such as reviewing credit reports, financial documentation and references — was crucial. With rental prices increasing rapidly, landlords faced an added challenge in ensuring that tenants could both afford the property and be trusted not to damage it. 'Renting out a property is a financial commitment, and just like banks assess borrowers before issuing loans, landlords need to assess tenants before handing over the keys,' said Abrahams. MyProperty said rental fraud remained a concern, particularly in larger cities where demand was high. Credit bureau checks helped verify key details such as identity numbers, contact information, employment history and previous addresses. With rents climbing sharply in 2025, landlords could no longer afford to make leasing decisions based solely on gut feel or references, MyProperty Homeloans pointed out. The PayProp Rental Index showed that average rentals in the first quarter reached R9 132, marking a 5.6% year-on-year increase. Despite this growth, 17% of tenants were still in arrears — although that figure was down on the prior quarter. PayProp reported that 'average rents rose by 5.2%, 6.0% and 5.5% year on year in January, February and March respectively. February's growth is a new post pandemic record, and the highest recorded since August 2017," the index said. The report also highlighted a 2.8% gap between rental growth and inflation in February and March, the widest in the current rental growth cycle. 'A single bad tenant can cost thousands in unpaid rent, legal fees and property damage. That's why thorough credit checks are more crucial than ever before,' said Abrahams. Abrahams explained that using a credit bureau was just one of several tools available. 'It's not just about historic debt or repayments. A credit report can show a landlord how a potential tenant is currently handling repayment as well,' she said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ 'In some cases, we've seen applicants falsify references or employment. A credit check gives you an independent way to confirm who you're dealing with. That's peace of mind, especially for private landlords who may not have access to other verification tools," said Abrahams. Credit bureaus drew information from a national database of credit accounts — including store cards, phone contracts, and loans — updated monthly by registered credit providers. This provided a consistent basis for assessing South Africa's more than 24 million active credit users. 'Even if a tenant has no rental history, a credit bureau report will still tell you how they manage debt, whether they're up to date with payments, and if there's any cause for concern,' said Abrahams. Landlords and rental agents also frequently used platforms like Tenant Profile Network (TPN), which provided tenant rental histories. However, Abrahams pointed out that TPN data only existed if the tenant had previously rented through an agency or a landlord who reported to the system. 'Otherwise it will not return any data because the system has no record of the tenant,' she said. She recommended using both credit bureau and TPN data — with the tenant's consent — to form a comprehensive view of the applicant's financial reliability. 'If the potential tenant has no profile at all, the landlord will need to rely on other available tools and conduct a thorough financial assessment,' said Abrahams. That included carefully reviewing three to six months of bank statements, verifying declared income and expenses, confirming employment and salary directly with the employer, and ideally speaking with previous landlords to conduct reference checks. 'These steps help create a fuller picture in the absence of formal credit data,' she said. IOL Business
The National
21-07-2025
- Business
- The National
'I felt ashamed': Labour MP calls out Labour's planned welfare cuts
Work and Pensions committee chair Debbie Abrahams fumed at the Prime Minister when he appeared at the Liaison Committee in Westminster on Monday, as she took him to task over the proposed cuts to Personal Independence Payments (Pip). Abrahams said that the bill – which was gutted of the most controversial element in last-ditch attempt to see off a bruising rebellion – was 'poor legislation' which had been 'designed to save money for the Treasury by cutting support to sick and disabled people'. She added: 'It was so far removed from Labour values of fairness and social justice, let alone compassion and common decency. I have to say I felt ashamed. "What are the values that will underpin the Government in terms of the policymaking going forward, so that we avoid the harms, the potential harms and the real harms that people are going to face, disabled people, vulnerable people are going face?' Keir Starmer (above) hit back, though conceded that he was 'not going to pretend that we got everything right in recent weeks'. He said: 'I think this is a really important Labour value. I think the fact that nearly a million people, young people, out of work, not earning or learning is a huge challenge for our country. None of us should be accepting of a system that operates like that, it is broken, it needs to be mended. READ MORE: Zarah Sultana hits out at 'racist' cartoon by 'right-wing hack' in Observer "All the evidence is that if you're on benefits and out of work at that young age, the likelihood of ever getting into good, well-paid, secure employment goes down, down, down for the rest of your life. 'One in 10 working age people out of work and three million locked out for health-related reasons. It is no wonder that almost everybody says the system is broken and it's got to be changed and I'm glad that we've started the process of change, I'm not going to pretend that we got everything right in recent weeks but we do need to reform the system and we should take that on as a Labour argument, in my view.' Labour had been planning to restrict access to Pip for new claimants so that only the most sick and disabled people would qualify. But faced with the prospect of a revolt from Labour MPs, the Government backed down and cut this from the bill, for which Abrahams eventually voted. It retained a less controversial but still criticised policy to halve the health element of Universal Credit for existing claimants and have the top-up frozen for new claimants at the lower level. Those already receiving the benefit will get a cash-terms boost from an increase to the standard allowance though people under the age of 22 will no longer be eligible. Elsewhere in the hour and a half grilling from committee chairs, Starmer said that the UK Government would respond 'in due course' to the International Court of Justice's advisory opinion on Israel's illegal occupation of Palestinian territories, which called on other states not to facilitate increasing landgrabs from unlawful settlers.
Daily Mirror
21-07-2025
- Politics
- Daily Mirror
Keir Starmer confronted over DWP disability cuts as Labour MP says she was 'ashamed'
Work and Pensions Committee chair Debbie Abrahams told Keir Starmer that the original benefit cuts were 'far removed' from traditional Labour values of fairness and social justice Keir Starmer was confronted by a senior Labour MP, who said the Government's plans to slash disability benefits left her "ashamed". In a tense exchange, Work and Pensions Committee chair Debbie Abrahams said the original plans were 'far removed' from traditional Labour values of fairness and social justice, as well as compassion and common decency'. And she pressed the PM on what he would like to say to the disabled people plunged into "fear and anxiety" before the Government watered down its plans. Ms Abrahams was among the Labour rebels who forced a climbdown on the legislation, which meant proposed cuts to Personal Independence Payments (PIP) were shelved until next year. The clash came as Mr Starmer was grilled by the Commons Liaison Committee ahead of the summer recess - with child poverty and international affairs topping the agenda. Ms Abrahams told the PM: "This was poor legislation. It was designed to save money for the Treasury by cutting support to sick and disabled people. "It was so far removed from Labour values of fairness and social justice, let alone compassion and common decency, I have to say I felt ashamed." Asked what values would drive the Government's reforms, Mr Starmer replied: "I think this is a really important Labour value. "I think the fact that nearly 1 million young people are out of work, not earning or learning, is a huge challenge for our country. None of us should be accepting of a system like that, it is broken and needs to be mended." He added: "We do need to reform the system and we should take that on as a Labour argument in my view." Ms Abrahams replied: "Everybody agrees that reform needs to happen. It is a broken system... reform does not mean cuts to household incomes for already struggling households. "We must do better Prime Minister. You mentioned about reducing poverty. This has the potential of actually increasing it." Earlier, the PM told MPs that "tackling poverty and breaking down barriers" was at the heart of his agenda. He said: "I want people to feel better off and there has to be a central focus on living standards. I want them to feel - as they will - that the health service is working much better, is there for them and their families in a way that it hasn't been for many years. "And I want them to feel safe and secure, both in their immediate neighbourhood and as a country, both our borders and national security and defence. So, they're the three things that I'm focused on more than anything else." Mr Starmer also restated his commitment to driving down child poverty levels. He said: "I'm very proud of the fact that the last Labour government drove down poverty, and I'm determined this Government is going to as well."
Business Insider
10-07-2025
- Business
- Business Insider
RBC Capital Reaffirms Their Buy Rating on BioCryst (BCRX)
RBC Capital analyst Brian Abrahams maintained a Buy rating on BioCryst on July 7 and set a price target of $13.00. The company's shares closed yesterday at $9.06. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Abrahams is an analyst with an average return of -2.5% and a 43.60% success rate. Abrahams covers the Healthcare sector, focusing on stocks such as Biogen, Vertex Pharmaceuticals, and Incyte. The word on The Street in general, suggests a Strong Buy analyst consensus rating for BioCryst with a $16.75 average price target, an 84.88% upside from current levels. In a report released on June 30, Wedbush also maintained a Buy rating on the stock with a $18.00 price target.
Business Insider
10-07-2025
- Business
- Business Insider
RBC Capital Reaffirms Their Hold Rating on Sarepta Therapeutics (SRPT)
RBC Capital analyst Brian Abrahams maintained a Hold rating on Sarepta Therapeutics on July 7 and set a price target of $25.00. The company's shares closed yesterday at $19.37. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Abrahams is an analyst with an average return of -2.5% and a 43.60% success rate. Abrahams covers the Healthcare sector, focusing on stocks such as Biogen, Vertex Pharmaceuticals, and Incyte. Sarepta Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $42.71, representing a 120.50% upside. In a report released on June 23, Piper Sandler also maintained a Hold rating on the stock with a $36.00 price target. Based on Sarepta Therapeutics' latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $744.86 million and a GAAP net loss of $447.51 million. In comparison, last year the company earned a revenue of $413.46 million and had a net profit of $36.12 million
