Automated client account platform Lettspay is to become a supplier to the Federation of Independent Agents. 

Lettspay, which is registered with the Financial Conduct Authority, helps letting agents and managers navigate the complex compliance issue of undesignated client accounts by creating individual accounts for landlords with their own sort codes and account numbers. All allocations to and from these accounts can be fully automated with payments approved before release.

In addition it can manage payments to contractors, deposit accounts and HMRC, and claims to improve arrears management and landlord and tenant communication.

The system has been selected by the FIA, which is entering its fourth year and now has over 70 agent offices within a membership that operates on an exclusive one agent per postcode territory basis. 

Lettspay founder Garrett Foxon says: “We recognise the FIA as a leading network of independent professional estate agents whose values and standards are entirely aligned with our own.

“With nearly all FIA agency members offering both sales and lettings services, the opportunity for them to use our automated client accounting technology makes perfect sense and ensures that they are able to provide clients and customers with the very best accounting provision that works with and reinforces the high levels of service and professionalism that membership of the FIA demands.”

And FIA founder Graham Lock adds: “Lettspay were recommended by a number of FIA members and, following lengthy discussions and a review of their product and service, we were delighted to welcome them as supplier members and ensure that all of our members are able to work with them and bring additional benefits to their customers, clients as well as their businesses.”