What letus does

Letus, operated by PaySlate Inc., is a Vancouver-based cloud payment and property management platform serving residential landlords, property managers, and tenants across the United States and Canada. Founded in 2012 (originally as RentMoola and rebranded to Letus in 2022), the company provides an integrated suite of tools covering online lease applications, tenant background and credit screening, online rent collection, portfolio management dashboards, and optional credit reporting services that report on-time rent payments to credit bureaus. The platform processes payments through multiple third-party processors (Paysafe, BlueSnap) and integrates Plaid for bank account linking and balance verification, with additional installment payment options via Splitit and PayPal Credit.

The business operates a hybrid revenue model combining monthly subscription fees for property managers, per-transaction service fees on tenant payments, one-time account setup fees, and ancillary charges including $25 chargeback support fees and up to $35 NSF fees. Go-to-market is dual-motion: a self-serve product-led channel for SMB and mid-market landlords via direct website signup, and a sales-led direct channel for enterprise property management companies offering demos and onboarding. The company markets primarily through its website, X (Twitter), property management association partnerships, and a Zendesk-powered help center.

Technically, Letus is a web-based SaaS platform with no public API, no mobile app, and no disclosed AI/ML capabilities. It supports bilingual English/French operations and maintains Pacific Time business hours with 24/7 email support. The company has operated continuously since 2012 with 101-250 employees, holds no disclosed patents or regulatory actions, and has raised minimal disclosed external capital (one 2016 Ruby Ventures round). Letus positions itself as an industry-credible rental lifecycle platform rather than a technology disruptor.

Name

letus

Legal name

PaySlate Inc.

Website

https://let.us

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

101–250 employees

Short description

Letus (PaySlate Inc.) is a Vancouver-based cloud payment and property management platform serving landlords, property managers, and tenants across the US and Canada. It offers online rent collection, lease applications, tenant screening, and credit reporting through a subscription plus transaction-fee model.

Ownership category

akta.pro rank

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. Service Fees: Non-refundable service fees charged for each payment made through the platform, including Credit Card Payments, Debit Card Payments, Bank Account Payments, Pre-Authorized Debit, Digital Wallet, and Cash Payments. Fees are charged in addition to and in advance of the Payment Amount.
2. Monthly Subscription Fee: Monthly fees for property managers covering payment processing technology, Merchant Account fees, and support services via telephone, email, live chat and text message.
3. One-Time Account Set-Up Fee: One-time fee covering setup and configuration for all properties in portfolio, staff training, marketing materials, and Merchant Account setup.
4. Chargeback Support Fee: Additional non-refundable fee of $25.00 charged to landlords for chargeback processing.
5. NSF Payment Fee: Fee of up to $35.00 charged when a payment is rejected for insufficient funds.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Letus is a cloud-based property management and rent payment platform operated by PaySlate Inc. It enables property managers and landlords to collect rent online through multiple payment methods (credit card, debit card, ACH/bank account, digital wallet, cash), run online lease applications, conduct tenant background and credit screenings, and manage property portfolios from a single dashboard. Optional add-on services include credit reporting of rental payments to credit bureaus and installment-based rent payments via Splitit.

Product overview

Letus is a unified property management platform operated by PaySlate Inc., offering an integrated suite of tools for property managers: the core Letus Property Management Platform combines Online Rent Payments (supporting credit cards, debit cards, ACH/bank transfers, digital wallets, and cash), Lease Applications, Tenant Screenings (background/credit checks), and a Property Management Dashboard. Optional add-on modules include Credit Reporting (for building tenant credit history) and Splitit Installment Payments. The company previously operated under the RentMoola brand. The platform connects with payment processors BlueSnap and Paysafe, uses Plaid for bank account verification, and offers integration with PayPal Credit and third-party credit services.

Differentiator

Problem solved

Functional benefit

Products and services

• Letus Property Management Platform
• Online Rent Payments Digital rent collection service enabling tenants to pay rent online through multiple payment methods with payments deposited directly into landlords' bank accounts.
• Lease Applications Online lease application processing allowing property managers to track inbound applications, send personalized invitations, and share unique links on listing services with secure online forms.
• Tenant Screenings Background and credit check services for prospective tenants providing verified information to help property managers reduce tenant turnover.
• Credit Reporting Service Optional add-on service that reports tenant rental payments to credit bureaus, enabling tenants with a written lease agreement (minimum one year remaining) to build credit history through consistent on-time rent payments.
• Splitit Installment Payments Installment-based rent payment option allowing tenants to pay rent over time using credit cards through the Splitit platform, with landlords receiving full payment upfront.

Quantifiable outcome

• Faster tenant screenings
• +2 more outcomes

Segments2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core and flagship.

• PaysafecoreTechnology or IntegrationPaysafe provides merchant services and payment processing for Letus, handling card transactions through their infrastructure. Letus has agreements with Paysafe Merchant Services Corp. for processing credit card, debit card, and ACH payments.
• BlueSnapcoreTechnology or IntegrationBlueSnap Enterprise Canada ULC serves as a payment processor and Underwriting Bank for card transactions. Letus has a BlueSnap Merchant Services Agreement governing payment processing.
• PlaidcoreTechnology or IntegrationPlaid enables secure bank account linking and real-time balance verification for rent payments. Letus uses Plaid to access financial account data including account numbers, routing numbers, and transaction history for payment facilitation and account status verification.
• Property Management AssociationsflagshipStrategic or Co-development PartnerLetus has partnered with property management associations to establish itself as an industry leader. These partnerships help build credibility and provide distribution channels within the property management community.
• Credit BureauscoreTechnology or IntegrationLetus facilitates optional credit reporting services that report tenant rental payments to credit bureaus, helping tenants build credit history through on-time rent payments.

Scale indicators1 record

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Buildium: Buildium (RealPage) is a widely deployed property management SaaS for residential portfolios with built-in rent collection, screening, and accounting — an incumbent with deeper feature breadth than Letus, particularly in accounting.
• Yardi: Yardi is a large enterprise property management software suite with integrated payments, screening, and accounting — a broad incumbent with significantly more resources and an enterprise customer base that overlaps with Letus's enterprise motion.
• AppFolio: AppFolio is a leading property management software platform serving residential and commercial portfolios with payments, screening, and accounting — a broader incumbent competing with Letus for mid-market and enterprise property managers.

Direct peers

• TurboTenant: TurboTenant offers free landlord tools including online applications, tenant screening, and rent collection — directly comparable to Letus's core feature set and target market of independent and small-portfolio landlords.
• Avail: Avail (part of Realtor.com / Move) provides landlord software for listings, tenant screening, lease signing, and online rent collection — directly comparable to Letus in serving independent landlords with a self-serve platform.
• RentRedi: RentRedi is a landlord software and rent payment platform offering online rent collection, tenant screening, and lease management — directly competing with Letus in the same SMB landlord segment with overlapping payment and screening features.
• TenantCloud: TenantCloud is a property management platform offering tenant screening, online rent payments, lease management, and maintenance — directly comparable to Letus across the SMB landlord workflow.
• Hemlane: Hemlane provides property management software for small and mid-sized landlords with online rent collection, tenant screening, and lease management — a direct competitor with overlapping feature set and customer profile.
• DoorLoop: DoorLoop is a property management software platform with built-in payments, screening, lease, and accounting features — directly comparable to Letus, particularly for small to mid-sized residential portfolios.
• PayRent: PayRent is a purpose-built online rent payment platform serving property managers and tenants — a focused, direct competitor to Letus's core rent collection offering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/letus_payments
• Facebookfacebook.com/letuspayments

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

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