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AppFolio supports modern residential, commercial, student housing, and HOA property managers with online portals and automated...
Stessa is an ai-powered accounting solution, purpose-built for real estate investors with rental properties. Our essential...
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William P.
Real Estate, self-employed
Used daily for less than 6 months
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Holistic view of the property valuation and cash flow. Tracking expenses and providing required profit and loss for accounting.
Quick and ease setup. Interface is designed for property managers - provides accounting and bookkeeping using the terms familiar to property managers and owners. Easy to track the expenses and capture everything for expense allocation and audits.
A few additional features requested: - historical view of the property instead of just point in time - enable leveraging for audits if needed - enable capturing receipt before the transaction comes through the CC to Stessa - store the image until matching available - integration w/ OWA from RentManager
Heather O.
Real Estate, 1-10 employees
Used weekly for 6-12 months
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I submitted the 2018 reports to our accountant and he loved them. So much easier than the Excel spreadsheet and shoebox of receipts!
This software is easy to use and comprehensively tracks everything related to our rental properties. I especially love that each property is tracked separately and together in various reports.
It would be nice if a Rent Roll report was available, by property and by portfolio.
Viola R N.
Hospitality, 1-10 employees
Used weekly for less than 6 months
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I love the import feature. Great for tracking and maintaining a balance of accounts and ability to separate and class properties.
There really isn't anything I don't like. Maybe if I could create folders without adding a property.
John D.
Civil Engineering, 10,001+ employees
Used weekly for less than 6 months
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Great application that I will continue to use and keep track of expenses and income.
This product is a free product that does just as much as most other real estate property management applications!
The user interface is not super appealing and the receipt scanner had some issues.
Janea B.
Real Estate, self-employed
Used monthly for 1-2 years
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I just bought my second property. I’ve been tracking transactions on my first property for about a year and half now with Stessa. I’m in the process of setting up my second investment property now. It’s super easy for a beginner. The last thing I need to be worrying about is how to navigate accounting software. I need one place to store and track all the transactions on my real estate property. I know I can access them anytime and run a quick report for my accountant at the end of the year. It’s su0per easy to use this platform as a way to analyze whether or not a property is profitable by running a quick report. Looking forward to growing with Stessa as I add more properties to my portfolio!
This is super easy to use and set up. The software walks you through property set up one question at a time. You don’t have to know a lot about accounting or accounting software, but it is evident the software is setting up a structure for you to monitor and track the transactions of your real estate investment(s) and be able to pull financial reports at the end of the year for your accountant. I use it once a month. It takes me less than 5 minutes to enter the transactions and I’m done!
There are no options for assigning HOA fees in the “money going out” category. I lump them under the Management fees section. It would be nice to be able to categorize HOA fees in their own world.
Jonathan K.
Real Estate, 1-10 employees
Used weekly for 6-12 months
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This software has changed my business. I have started 5 other business with it and they all love it. Best thing I have ever used. It has been a year that we have been using it and it still blows my mind every time we use it.
I love how all our property and tenant data is located in one place for all the team to see. It keeps track of our money in and out and lets us know what we are spending on each property. Helps us as armature's understand real estate a lot better since we can always see the numbers
I wish the reporting could be customizable and the only reason I say this is because I would like more simple reports.
Aleksandar P.
Real Estate, self-employed
Used weekly for less than 6 months
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Great!
I simply love Stessa. It's intuitive, easy to use and it helps me manage my property financials without issues. Highly recommended for anyone with rental properties.
Inability to find instant solution for my question
Eric Z.
Real Estate, self-employed
Used weekly for 2+ years
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Stessa offers the most intuitive, purpose-built rental property financial software that I’ve come across. Far too many colleagues of mine are still either using overly complicated general accounting software, or worse, tracking everything manually in Excel. Stessa not only allows me to automate the majority of my bookkeeping, but the real time reporting functionality allows me to monitor the performance of my assets and catch anamolys much quicker. While other property management software may offer expense tracking or basic accounting features, Stessa’s exclusive focus on the financial aspect of rental property ownership allows them to offer a far more robust feature set and innovate at a faster clip.
As a single-entry accounting system, it comes with all the drawbacks associated with that method of accounting (no cross-checking, greater potential for error, no tracking of real accounts, etc.). This was an intentional design decision, however, as this software is geared to be more user friendly for the average rental owner. While it lacks the sophistication of a double-entry system, Stessa has come up with innovative ways to simulate certain aspects of a double-entry system through features like a derived Balance Sheet report using user provided asset values and debt information.
Stephen A.
Real Estate, self-employed
Used weekly for less than 6 months
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My accountant loves it and it saves me hours of manual entry. As an added bonus, I have critical information in real time that can help me make good decisions for the future. Haven't really even scratched the surface on this part but it's all there.
I have used QuickBooks for years but got tired of the barrage of come-ons and sticky marketing techniques they use on customers. It seemed every time I opened the program, there would be new hoops to jump through if I wanted to do any actual work. Stessa is designed from the ground up for rental property owners. You enter income and expense items, that's it. All items fall under one of the carefully...
This is not a property management platform in the sense that you can schedule maintenance and track hours. However, you can capture and import invoices so your records are all in one place.
Karl D.
Real Estate, 1-10 employees
Used daily for 1-2 years
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This is just a really well thought out application that allows you to track every and all expenses for the property. It can assign tags to all expenses to track them for each unit.
I really wish they would offer lease management in a way where you can create and edit the leases on the app and tenants can esign the leases.
Cami B.
Real Estate, 1-10 employees
Used weekly for 1-2 years
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Overall, I can not imagine my life without Stessa now. My partner and I currently have 9 rental properties with a goal to grow to 15 properties in the next year.
Stessa software is the easiest program to manage my rental properties I love that once I set up a property profile and connect my bank account that manages that specific property, Stessa automatically uploads my transactions and sends me a notice to review transactions. Then monthly I get an update about whether I had positive cash flow. I love this program and can easily move between seeing all of my properties collectively or individually if I need to drill down even deeper. This program is a no brainer for anyone owning or managing multiple properties.
This was a little confusing setting up the initial property details, but once I got used to where things were in the program and how to add the information it was alot more friendly for me.
Rick Z.
Computer Software, 1-10 employees
Used monthly for 6-12 months
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I like how Stessa connects to my property management company, and to my banks. It's great to see my portfolio snapshot. The tax package is also very useful and saves me a lot of time during the tax return prep.
Nothing really I dislike. But it would be useful to have a functionality that allows to split the multi-family units into their own units for reporting purposes. Admitted, it's my fault to have started with one property for a multi-unit one.
David L.
Real Estate, 1-10 employees
Used monthly for less than 6 months
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They automatically import financial transactions from data sources you link. They provide the ability to track by property and category. The reporting at the end of year (for tax purposes) is simple and thorough. I can't believe it's free.
They are adding more functionality to improve the reporting. Right now, I get a good summary but, in the future, would like to get some recommendations such as: a) this is the best mortgage to pay off b) you should consider getting a home warranty for this property. I'm sure that will come as they develop. I'd love to see Stessa integrate with other rental management companies like Avail, TenantCloud, Cozy, etc.
Scott S.
Real Estate, 1-10 employees
Used weekly for less than 6 months
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Stessa is allowing me to stay on top of my rental property business by seeing the numbers in a intuitive way. It makes my life easier and also excites me to see all the properties performance.
The dashboard allows me to quickly see my equity, cashflow, vacancy, debt, expenses etc for all my portfolios. Great software! I also am excited to have my accounting integrated all in one place.
Things that I know the Stessa developers are working on: Android App, Email Receipt functionality and other features. I think this product will just get better and better!
Bradley M.
Real Estate, self-employed
Used weekly for 6-12 months
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The ease of income and expense tracking allows you to take control of your business. By linking accounts or adding transactions as you go, Stessa does the rest - generating all the reports you'll ever need, making tax time a walk in the park.
It would be nice to allow another user, like a partner or manager, to login with their own credentials and have limited(or full) accessibility to the your data.
Josh S.
Real Estate, 1-10 employees
Used daily for 6-12 months
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It’s the first platform I’ve used that I have been able to use as a one stop shop for everything for our portfolio. We can manage our vacancies and tenancies, as well as our finances. It’s been great. Thanks [SENSITIVE CONTENT] and the Stessa team!
This app is amazing. It’s the first platform that has allowed me to manage our entire portfolio directly from my phone if I want to. I can track all expenses and directly import from the bank, and assign to each property and even a specific unit.
I wish the transaction importing would occur in real time directly, versus having to log in and refresh the transactions.
Glenn C.
Real Estate, 1-10 employees
Used weekly for 6-12 months
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First of all, it's free to use, and by inputting all your property data it gives you a number of different metrics and can sync transactions with your back account. I can also invite other investors and partners to view certain properties, which makes my reporting requirements a lot more seamless.
Only con for me is that I can't get the mobile app in Canada.
Rick K.
Construction, 1-10 employees
Used daily for 2+ years
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I absolutely adore Stessa and tell everyone about it. I'm probably their biggest fan though I'm a small time investor. It is literally the single best accounting app I've ever used and better then working with a CPA or accountant. It's made my life significantly more simple around tax time and for that I am eternally grateful.
The auto import from my connected accounts including bank and credit card accounts. It also is the biggest help with my taxes that I could ever dream of. Every year I just print out the tax report for each property and my tax guy barely has to ask me any questions.
To be totally honest there is nothing I don't like. I will say I haven't tried their mobile app in over a year because it used to be pretty weak but I hear it's been updated and very nice now.
Jose A.
E-Learning, 201-500 employees
Used weekly for 1-2 years
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This is the ultimate tool for managing my rental properties. It allows me to see the performance of my overall portfolio and individual properties. Its also a must come tax season.
Love the ability to track all of my transactions associated with each property in my portfolio. They also have some great little features like splitting a transaction into the appropriate categories, such as mortgage payments being split into the principal, interest, and escrow, etc. New reporting packages are a great addition.
Would love to see the ability to copy transactions or have an autofill function (like google search) for common transactions. Could also use some tweaking for comparing long-term vs short-term rental properties on the main dashboards.
Maria W.
Medical Practice, self-employed
Used weekly for less than 6 months
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I am very happy in the utilization of this software. Very happy to have found it.
This is a incredibly easy to use software to manage your property rentals. The expense categories break down into subcategories so you know exactly where your money is going and why. Everything you need to know or keep track of is at your fingertips in a simple, yet effective format.
Thus far, I have no cons. Everything about this software has exceeded expectation.
KENDRICK F.
Real Estate, 1-10 employees
Used daily for less than 6 months
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My overall experience with Stessa has been great. There is nothing like this anywhere that focuses on Real Estate Investors. This is definitely an untouched niche. I have already shared with my real estate investor associates.
1. Having everything update directly from the source saves me alot of time. I previously spent countless hours updating spreadsheets. Now I have time to drill down on property managers, analyze expenses and make decisions. 2. Can provide key performance indicators used to provide a high-level overview of the state of the business
1. Investors are not starting from scratch. Need a way to input previous year's earnings. 2. This is more gear to cash-flow. Would like to show the effects of flippers.
Collin S.
Real Estate, self-employed
Used monthly for less than 6 months
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Just like the title suggests - so far so good. The customer support has been surprisingly quick and helpful. I had a few questions about future iterations and CSR was very quick to get back to me confirming that several suggestions would be available on the next release.
I am relatively new to using this tool and I appreciate the visibility that this tool offers me for my rental property(s) to look at different performance metrics. It kind of reminds me a hybrid of Mint and Personal Capital for Rental Properties. I see the potential of this tool platform and look forward to seeing where it goes!
I like how this tool allows for me to export different financial reports for different time periods, I just wish that it would give me all of the details of the summary data in the spreadsheet? Also, the data exported is appears to be just text data? If I want to modify any of the tables, I can't because there are no formulas?
Benjamin D.
Real Estate, self-employed
Used weekly for 6-12 months
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I purchased a group of 8 properties as my first investment deal. One loan, one insurance bill, multiple taxes in escrow complicated the property setup and accounting. This was easy to address with the software and when I asked for help on the "help me" message board, I got a complete, useful answer the next day. A few more questions and support called me "to chat" and were happy to do a WebEx type session to see what I was doing and offered tools and techniques that were very helpful. It was not long that I was doing all of the imports, and reporting on my own and felt confident that I was doing it right (or at least not wrong).
There is nothing to install as it is in the cloud. Setup the first few properties was a easy and quick. Back filling data was relatively easy and they could pull data from my bank even with two factor authentication, and could get the data from my property managers software which is little more than a zip file with receipts and PDF owner report.
I found that I have some duplicate items from different data sources that I set aside in a "For Audit" bucket (like a company entity). So while this gets ignored by the real company buckets it is included in the 'all companies reports".
Patrick P.
Real Estate, self-employed
Used weekly for 6-12 months
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Awesome. Well worth the time inputting the data.
Ease of use: It works the way it should. Automation: Once set up, the transactions of the download from owner each owner portal (when you own several properties), and bank accounts. User experience is similar to mint.com. Visibility: it creates a consolidated dashboard for the portfolio, and derivative clean graphs, giving perspective and showing trends. Amazing Customer support: hats-off to the reps, who have answered 10+ "hard questions". I only ask "hard questions" since the FAQ is also excellent. - Insightful newsletter.
No Cons per se. Just two humble recommendations. Users of Stessa would benefit tremendously if it: - it offered a function for marketing the property (i.e. find tenants or buyers). Stessa being a repository of information (location, yr built, sq footage, pictures), a few clicks should allow spreading the good news throughout the specialized sites (Craigslist Zillow, Trulia, Redfin, local websites...) - kept historical records of the tenant roll. Currently, it only offers a picture at the present time.
Marty A.
Real Estate, 1-10 employees
Used weekly for 6-12 months
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It's ok. we wouldn't pay for it, not remotely. But it seems like they're trying to grow their business by solving the big problems only and ignoring the "small" ones. We will keep with them at least until the end of the year for ease of tax reporting, but will seriously look at other options as December rolls around.
Look, it's free, we get that. And it has added value to our business. But their inability to resolve a seemingly simple issue after 5 months is inexcusable.
For a software company, they are surprisingly not agile. Two examples:- For every nearly transaction that comes through, we have to attribute it to the property/tenant in spite of the amounts and ledgers being exactly the same every month. It appears the only AI they use is a checkbox that ties a bank account to a property. That's great for loans, but it should be able to handle rents too. - We can...