Lette, the Dublin and London company building AI agents for institutional rental operators, has raised a £5M seed round led by Peak.

England's Renters' Rights Act ended fixed-term tenancies on 1 May 2026, so most tenants can now leave on two months' notice at any time. Retention used to be settled once a year at renewal. Now landlords have to earn it every month, and an empty flat costs rent from the first day. Yet most leasing and resident service still runs on shared inboxes, spreadsheets and a scatter of point tools, while portfolios grow faster than headcount.

Lette sits on top of the property management systems operators already run, such as Yardi and MRI, and writes every update back to them, so there is no data to migrate and teams can go live in weeks. Its agents take a home from first enquiry to signed lease, answer residents at any hour and in any language over Lette's app, email, WhatsApp, SMS or voice, run repairs from the first photo to the finished job and flag missed rent before arrears build. Customers span build-to-rent, private rented, student and single-family housing. "Housing is a human industry," said co-founder and chief product officer Jakub Rajek, who pitches the automation as a way to give staff time back for residents.

The company says its agents now cover more than 30,000 units, resolve over 60% of resident support and maintenance requests without a person and have cut the time to lease a home from two weeks to under four days. JLL is a customer, and one build-to-rent operator has added more than 1,000 homes without hiring. Mohan Sai and Rajek, both early members of restaurant software company Nory, founded Lette in Dublin in March 2025 and raised a $1.4M pre-seed round led by Pitchdrive later that year. The team has grown sixfold in twelve months.

Heliad, Foreword VC, Pitchdrive and Adeline joined the round, alongside angels including Intercom co-founder Des Traynor. Some outlets reported the raise as $6.5M. The money will go on hiring across product, engineering and customer operations, a deeper push with UK operators and entry into new European markets in 2027. With residents able to leave at two months' notice, chief executive Mohan Sai said, every empty day is lost rent, "and that is what we help operators win back."

Sources