- Lette has raised $6.5 million in seed funding, led by Peak, to grow its AI leasing operations in the UK.
- Lette says its agents deal with over 60% of resident support and maintenance requests.
- This follows the England Renters’ Rights Act, which allows most tenants to give two months’ notice.
A year after the Renters’ Rights Act came into force, landlords in England are getting used to the main rule. From May 1st 2026, most tenants can vacate at any time with just two months’ notice, so every month is now a renewal.
Lette, founded by two of Nory’s executives, has raised $6.5 million in seed funding to provide landlords with AI agents to assist with leasing and resident management.
Peak led the round with Heliad, Foreword VC, Pitchdrive, Adeline, and angel investor Des Traynor, co-founder of Intercom, also on board. That’s just over a year after the $1.4 million pre-seed round, and it’s about 4.6x larger. Lette’s total funding is now at around $7.9 million.
Transitioning from restaurant management to rental housing
Mohan Sai and Jakub Rajek founded Lette in Dublin in March 2025. Both were also founding members of Nory, the AI restaurant management platform Conor Sheridan launched. Nory raised a $37 million Series B in September 2025, led by Kinnevik, and has raised $62.6 million in total to date. Lette now has offices in both London and Dublin.
“Housing is a human industry. Letting agents and property managers come into this job to look after people, yet their days are still spent chasing leads, copying details between systems and updating spreadsheets. We started Lette to automate that repetitive work and give teams their time back, so they can pick up the phone when it matters and be there when a resident really needs them,” said Rajek.
Lette works with the operators of build-to-rent blocks, purpose-built student accommodation, the private rented sector, and single-family homes. Rather than replacing the existing property management system, it integrates with it, pulls in data from systems such as Yardi and MRI, and sends updates back to the original system, which remains the master record. They can get teams up and running in weeks, with no data migration required.
Lette’s agents handle the entire leasing process from first enquiry through to the signed lease and can reply to residents at any time, in any language, via app, email, WhatsApp, text, or voice call.
A resident could send a photo of a leaking tap on WhatsApp at midnight, and the agent would take that photo and manage the repair process from that point right through to the tap being fixed. They also spot missed rent early so staff can step in before arrears become an issue.
A law that made retention a monthly challenge
The Act, which came into law on 27th October 2025, will end fixed term tenancies in England on 1st May 2026. Existing fixed terms will become rolling tenancies, and tenants will now be required to give two months’ notice. Lette notes that retention used to be a one-off decision at renewal, but now it’s a win/lose proposition each month. Service is a matter from the first enquiry, even before move-in.
“Institutional operators in the UK and Ireland have never had a platform built around how their teams lease homes and look after residents. Lette takes a home from first enquiry to signed lease and stays with the resident after move-in, working alongside the systems operators already have. We’re using this funding to go deeper for UK operators. Now that residents can leave at two months’ notice, every day a home sits empty is lost rent, and that is what we help operators win back,” said Sai.
UK build-to-rent stands at 310,310 homes, according to Savills’ Q2 2026 report for Real Estate:UK. MarketsandMarkets is forecasting the global property management software market to grow from $26.49 billion in 2024 to $42.78 billion by 2030.
Lette’s value is, of course, closely tied to a law that applies only in England. Its planned entry into new European markets in 2027 will test whether demand is driven by regulation or the simple economics of having many vacant homes.
Key metrics and outstanding questions
Lette say that across their 30k+ units, their agents are automatically handling over 60% of the resident support and maintenance requests and have reduced average leasing time from 2 weeks down to under 4 days. One other build-to-rent operator has added over 1k homes without any additional headcount. All of the above are self-reported.
Proptech is a crowded, well-funded space. EliseAI, which automates leasing and resident services for housing and healthcare, raised $350M at a $4B valuation and reported that its annual recurring revenue passed $200M in June.
Established software companies are also building agents. AppFolio has launched its agentic tools called Realm-X Performers. In France, Rivage raised €1.5M for AI rental management software and uses local accounting rules to keep US players out.
Lette’s approach is to add AI to the systems that the operators already use rather than replace them. That reduces switching costs but, of course, also ties Lette to Yardi and MRI, whose owners may well go on to build their own agents.
Thijs Dijkman, general partner at Peak, said, “Mohan and Jakub bring deep technical expertise and sharp commercial judgement, and have moved quickly to earn the trust of major operators in the UK and Ireland. By building around the full resident lifecycle, they are creating a platform that is becoming central to how those businesses operate, with the operational data and customer relationships to build a lasting advantage.”
Lette plans to use the funds to grow its UK team, hire in product, engineering and customer operations, and expand into new European markets in 2027. The team has grown sixfold in the last year.
English law now requires landlords to calculate their retention monthly. The key challenge is whether a solution that works with other vendors’ systems will remain relevant when those vendors launch its own agents.
