What letus (previously RentMoola) does

letus (previously RentMoola), operated by PaySlate Inc. (with legacy entity RentMoola Payment Solutions Inc.), is a Vancouver, British Columbia-based online rent payment and property management platform serving landlords, property managers, and tenants across the United States and Canada. The company was founded in 2013 and rebranded from RentMoola to Letus around 2025, positioning itself around flexible rent payment options and optional rent credit reporting. Its core product is a unified web-based platform that bundles four modules—online lease applications, tenant screenings, online rent payments, and a property management dashboard—into a single interface for landlords and property managers, with a parallel tenant-facing experience. The platform supports credit cards, debit cards, ACH/pre-authorized debits, ApplePay, GooglePay, cash, SMS-authorized, and recurring payments, routing transactions through BlueSnap and Paysafe as payment processors, with bank account linking and balance verification handled by Plaid. Add-on services include a Splitit-powered credit-card installment option, a Marketplace feature that lets tenants pay non-platform landlords (with auto-refund after 24 hours), an SMS payment authorization flow, the MoolaPerks rewards program, and an opt-in rent credit reporting service.

Revenue is generated through a combination of one-time landlord setup fees, recurring monthly subscriptions for property managers, per-transaction service fees paid by tenants, a $25 chargeback support fee per chargeback, up to $35 NSF fees on failed payments, Splitit convenience fees, and referral/revenue sharing from linked third-party services (including PayPal Credit and Rentify). Distribution is dual-motion: a sales-led enterprise/mid-market motion targeting large property managers via "Book a Demo," combined with a self-serve direct-to-consumer tenant sign-up flow and an inside-sales phone/chat support channel. The company has raised approximately $12.6M+ in disclosed funding across rounds in 2016 ($5M from Conservice), 2017 ($5M led by TriView Capital), 2019 (~$2.6M from Ayrshire Group), and 2020-2021 (REACH/Second Century Ventures and Novel Capital). Customer concentration by enterprise logo is not disclosed, and AI/ML capabilities are not present in the product surface.

Name

letus (previously RentMoola)

Legal name

PaySlate Inc.

Website

https://let.us

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

101–250 employees

Short description

Letus (previously RentMoola) is a Vancouver-based online rent payment and property management platform that lets North American landlords, property managers, and tenants process rent, lease applications, tenant screenings, and credit reporting through a single PSP-integrated web platform.

Ownership category

akta.pro rank

Product category

Rent Payment Platform

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Commercial and Industrial Machinery and Equipment Rental and Leasing (5324)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Bill Pay, Invoicing & Payables Platforms (BPAMAFAF)

Keywords

• Online rent payments
• Property management software
• Tenant screening services
• Lease application processing
• Rent credit reporting

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Tenant Service Fees: Non-refundable per-transaction Service Fee charged to tenants immediately after each payment via Credit Card, Debit Card, Bank Account, Digital Wallet, or Pre-Authorized Debit. Fees are collected into a separate Letus Merchant Account and never deducted from Payment Amounts.
2. Landlord/Property Manager Monthly Subscription Fees: Recurring monthly subscription fee charged to landlords and property managers covering payment processing technology, Merchant Account fees, and customer support (phone, email, live chat, text message).
3. One-Time Account Setup Fees: One-time setup and configuration fee per landlord/property manager covering portfolio setup, staff training, marketing materials (electronic and physical), and Merchant Account setup.
4. Chargeback Support Fees: Non-refundable $25.00 Chargeback Support Fee charged to landlords for each chargeback, plus potential additional fees/penalties for excessive chargebacks.
5. NSF / Insufficient Funds Fees: Up to $35.00 NSF Payment fee charged in local currency when a payment is rejected for insufficient funds, in addition to fees from the tenant's financial institution or landlord.
6. Splitit Convenience Fees: Convenience fee charged by Letus to Payors in connection with use of Splitit installment payment services.
7. Referral & Revenue Sharing from Third Party Services: Referral fees or revenue sharing earned when users access Third Party Services (tenant screening, insurance, credit, etc.) through Linked Sites on the Letus platform.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Letus is a cloud-based online rent payment platform operated by PaySlate Inc. that functions as a Payment Service Provider, enabling tenants to pay rent via credit/debit cards, ACH/pre-authorized debits, ApplePay, GooglePay, cash, and SMS-based authorization, with payments routed through BlueSnap and Paysafe underwriting banks. The platform bundles rent collection with an integrated property management suite covering online lease applications, background and credit tenant screening, recurring payment scheduling, credit reporting to bureaus, and a multi-property management dashboard for landlords and property managers across the US and Canada.

Product overview

Letus is a single unified online rent payment platform operated by PaySlate Inc. (formerly branded RentMoola) that bundles four core property manager modules — Online Lease Applications, Tenant Screenings, Online Rent Payments, and a Property Management Dashboard — into one web-based solution for landlords, property managers, and tenants. Around this core, the platform offers add-on services including an optional Credit Reporting Service that reports on-time rent payments to credit bureaus, the MoolaPerks rewards and promotions program, a Marketplace that lets tenants pay non-partner landlords, an SMS-based payment authorization flow, and Splitit-powered installment payments, all processed through integrated payment processors (BlueSnap, Paysafe), digital wallets (ApplePay, GooglePay), and bank account verification via Plaid.

Differentiator

Problem solved

Functional benefit

Brands

• MoolaPerks: Perks, contests, and promotions referenced within the Letus platform offering (referenced in the Letus Terms of Use, section 12.4).

Products and services

• Letus Online Rent Payment Platform Cloud-based online rent payment platform functioning as a Payment Service Provider (PSP), offering online rent collection via credit/debit cards, ACH/pre-authorized debits, ApplePay, GooglePay, and cash, with integrated lease applications, tenant screening, property management dashboard, and recurring payment scheduling for property managers, landlords, and tenants across the US and Canada.
• Credit Reporting Service Opt-in add-on service that reports tenants' rent payments made through Letus to credit bureaus, helping tenants build payment history and creditworthiness for the term of their lease.
• MoolaPerks Rewards Program Rewards and promotions program offering perks, contests, and promotional benefits to users of the Letus platform, designed to drive engagement and tenant retention.
• Splitit Installment Payments Installment payment service enabling tenants to pay rent in monthly installments on a credit card via Splitit, with Letus acting as the landlord's agent in the Splitit merchant funding and receivables purchase agreement.

Quantifiable outcome

• Faster tenant screenings via in-depth background and credit checks
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature8 records

Partnerships

Seven partnerships are on record, tiered core, major and moderate.

• BlueSnap Enterprise Canada ULC (and BlueSnap, Inc.)coreTechnology or IntegrationBlueSnap serves as a primary Payment Processor for Letus, with BlueSnap Enterprise Canada ULC acting as a Merchant Services Agreement counterparty and the platform's underwriting bank for credit/debit card settlement. BlueSnap, Inc. is also authorized to process pre-authorized debit payments on behalf of Letus and/or the Landlord. The BlueSnap Merchant Services Agreement is incorporated by reference into the Letus Terms of Use.
• Paysafe Merchant Services Inc. / Paysafe Merchant Services Corp. / Paysafe Group, Ltd.coreTechnology or IntegrationPaysafe serves as a primary Payment Processor for Letus, providing merchant services for card processing and ACH processing (as a limited agent for ACH transactions). Paysafe Merchant Services Corp. acts as a counterparty in the Merchant Services Agreement alongside BlueSnap. Paysafe also handles chargebacks, reserves, and split payment services for ISV Platforms integrated with Letus.
• Plaid Inc.coreTechnology or IntegrationPlaid provides secure bank account linking and real-time balance verification for rent payments. Letus uses Plaid to retrieve account/routing numbers, current balance, and transaction history; checks may be performed pre-payment to reduce failed payments. Access is read-only and Plaid handles authentication and encryption. User data is shared between Letus and Plaid per Plaid's privacy policy.
• Splitit Operations CA Ltd. ("Splitit")majorStrategic or Co-development PartnerSplitit provides embedded installment payment services, enabling tenants to pay rent via credit card installments over time. Letus acts as the landlord's agent to enter into merchant funding and receivables purchase agreements with Splitit. Letus charges a convenience fee in connection with Splitit use, and information about users and payments is shared with Splitit per its privacy policy. Separate supplemental terms apply for Canadian and US users.
• Property Management AssociationsmajorGTM or Marketing PartnerLetus has partnered with property management associations to establish itself as an industry leader. These alliances support credibility and distribution within the property management ecosystem.
• Industry ExpertsmoderateStrategic or Co-development PartnerLetus collaborates with industry experts to inform platform development and establish the company as an industry leader in rent payment and property management.
• American Express (OptBlue Program via TSYS Acquiring Solutions)moderateTechnology or IntegrationThrough Paysafe's Merchant Services Agreement, merchants can accept American Express cards under the OptBlue program, with TSYS Acquiring Solutions, L.L.C. providing processing services. American Express has third-party beneficiary rights to enforce OptBlue terms.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• AppFolio: Public property management software provider that has natively embedded online rent payments (AppFolio Payment Platform) and tenant screening, competing head-to-head with Letus at the mid-market and enterprise property manager level.
• Buildium: Established SaaS property management platform owned by RealPage that offers integrated online rent payments, lease applications, and tenant screening — directly competing across Letus's core landlord modules.
• Zillow (Payments / Zillow Rental Manager): Major real estate marketplace that has expanded into rental listings and online applications/screening; its scale and existing tenant traffic make it a strategic competitor for tenant-side acquisition.

Direct peers

• Avail: Online platform for independent landlords offering tenant screening, online applications, and rent payments — a closer direct competitor to Letus on landlord-side tooling, especially for the SMB landlord segment.
• PayRent: Online rent payment platform purpose-built for tenants and landlords, supporting ACH and card payments with landlord notifications — overlapping closely with Letus on the payments-first proposition.
• RentRedi: Rent collection and property management platform offering tenant screening, leases, maintenance and rent payments, with ACH and credit card options — competing for the same SMB landlord cohort as Letus.
• Cozy: Renter-focused platform (acquired by Realtor.com / Move, Inc.) offering rent payments, applications, and screening — historically a direct competitor to RentMoola in the North American SMB landlord/tenant segment.

Emerging players

• Hemlane: Full-service property management software for small and mid-sized landlords offering online rent collection, leases, screening and tenant communication — an emerging competitor in Letus's SMB focus area.

Others

• Conservice: Utility billing and analytics provider for the multifamily industry and an investor in Letus; while not a direct rent-payments competitor, it shares the multifamily customer base and could be a partner or vertical integrator.
• Plaid: Bank account-linking and verification infrastructure provider that Letus integrates with; not a competitor but a critical infrastructure partner whose pricing and roadmap can shape Letus's cost structure and feature velocity.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/rentmoola
• Facebookfacebook.com/334815966561968
• LinkedInlinkedin.com/company/rentmoola

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds7 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about letus (previously RentMoola)