Teclet—an automated lettings and management platform owned by British portal OnTheMarket— has completed an integration with PropTech supplier Lettspay.
LettsPay is an end-to-end rent management and payments platform. The company is registered with the Financial Conduct Authority, so it can assign clients dedicated client account wallets, into which tenants and guarantors pay landlords. Lettspay is also able to add charges including agent and contractor fees.
It is unknown how many OnTheMarket users will benefit from the integration.
Alan Blockley, chief executive at Teclet, said:
"The benefits from using teclet and LettsPay will be clear to anyone currently processing rents and payments either manually or via software that does not have the integration benefits we have created.
"The processing is also completely compliant with current regulations and provides individual client account wallets which many agents are finding that their banks are requiring and will, in the near future, be a mandatory requirement on everyone."