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Stessa Reviews

Reviews summary

Pros

This free software from Stessa works wonderfully for tracking expenses. When I had an issue, it was resolved immediately so customer service is top notch as well.

JEFFERY S.

Just like the title suggests - so far so good. The customer support has been surprisingly quick and helpful.

Collin S.

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.

Benjamin D.

Cons

With my vision getting worse as I get older, it’s hard to read the numbers. I have to enlarge the numbers to read it.

Deanna H.

It makes me a little bit nervous connecting my financial institutions to the website in light of all the hacking going on these days.

John S.

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.).

Eric Z.

Overall rating

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95%
positive reviews
98%
would recommend this app

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55 reviews

recommended

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Stessa is a game changer for the independent rental owner.

Reviewed 7 months ago
Pros

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.

Cons

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.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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Really helpful for portfolio analysis and organization

Reviewed 2 years ago

This has helped me categorize and organize without me having to "reinvent the wheel" trying to set up a spreadsheet in line with the tax code.

Pros

This software takes all the input and then collates it and calculates it giving you an analysis of individual properties as well as the portfolio in general. It helps me as a newer investor to categorize my transactions which I suspect will be very helpful when it comes to tax season. I like the mileage tab as well as I was bad about recording my mileage and this tab serves as a reminder for me. I'm very excited to see how helpful and effective the software is when it comes to tax time!

Cons

So far I have no complaints at all about this software.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Stessa is Quicken for Real Estate

Reviewed a month ago

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.

Pros

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.

Cons

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.

Overall Rating
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Nope. Not gonna do it.

Reviewed 3 years ago

See above

Pros

None- I never got that far. Maybe it's good, but I won't give out sensitive into to a stranger

Cons

As a landlord with multiple properties, I thought this might be a handy tool, so I began the sign up process. Until they asked for my banking info. What?? What do they need that for? Not happening. I'm out.

Vendor response

Hi Nancy - Linking a bank account to Stessa is safe and completely optional, and this is clearly explained during the sign up process. While secure bank connections are the most seamless way to automatically track rental property income and expenses, Stessa also allows users to create transactions manually or via data file uploads. For users who do choose to link accounts, Stessa uses technology similar to sites such as Mint and Personal Capital to link up with thousands of US based banks and credit unions. In any event, we're sorry to hear that Stessa isn't for you and wish you luck finding an alternative that meets your needs.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Fantastic Software

Reviewed 2 months ago

I think this is the best thing out there. Everything about Stessa is top notch from the product itself to the customer service.

Pros

Its easy to use, their is no guess work. I like the banking integration, tenant ledgers, general ledger, balance sheet, income statement, cash flow and every other report you could need. The best part for me is the year end package it generates for my tax guy.

Cons

I'd like to see the ability to update the RE Tax PIN number. Although customer service is excellent and will make any updates you need quickly.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Easy to use and fantastic customer service!

Reviewed 2 years ago

Stessa helped me keep track of the accounting side of our real estate so we can easily give all the information to our accountant at the end of the year. It also makes it possible to quickly see a snapshot of our portfolio performance - no more waiting until the end of the year to see how we did!

Pros

Stessa makes it easy to look at the performance of my real estate portfolio.No more manual math in Excel for me!

Cons

Nada. They continue to update and improve the functionality!

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Amazing App For New Real Estate Investors

Reviewed 2 years ago

This has really helped me start organized as I start up our real estate investing portfolio.

Pros

I love the ease of use and ability to connect to my business checking account as well as my business credit card.

Cons

Inability to do split transactions and didn’t know how to pull reports until recently.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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Love this site

Reviewed 2 years ago
Pros

This site has really helped me manage my rental properties much more easily and efficiently.... all of my accounting and info about interest rates/insurance/etc are all easily accessible in one spot. And their reports make it all easy to quickly review. Also great for doing my taxes.

Cons

Doesn't yet integrate with enough small banks, so I have to manually upload my transactions ever month via Excel.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Perfect for Rental Owners

Reviewed 6 months ago

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.

Pros

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...

Cons

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.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

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Use of Stessa

Reviewed a month ago

The Stessa software allows me to track key metrics immediately as opposed to using excel spreadsheets to arrive at similar information.

Pros

Ease of use, various reports it provides and quick performance metrics at one's fingertips.

Cons

It doesn't track rent to own assets or owner financing

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Game Changer

Reviewed 8 months ago

The product is consistently getting better and more robust. The creators listen to feedback and implement new features all the time. Loving it!

Pros

It is easy to set up and use. Very user friendly.

Cons

Issues with data sources disconnecting.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Great Product

Reviewed 2 years ago

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).

Pros

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.

Cons

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".

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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A must have software program for Landlords

Reviewed a year ago

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.

Pros

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.

Cons

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.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Two thumbs up for Stessa: What-gets-tracked-gets-improved made easy.

Reviewed 3 years ago

Awesome. Well worth the time inputting​ the data.

Pros

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.

Cons

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.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Perfect for Investors just getting started

Reviewed 2 years ago

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!

Pros

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!

Cons

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.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Incredible product for managing my rental properties

Reviewed 10 months ago

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.

Pros

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.

Cons

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.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Just what the doctor ordered. No-one is doing this!

Reviewed 2 years ago

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.

Pros

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

Cons

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.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Makes my life so much easier!

Reviewed 6 months ago
Pros

The easy expense and income tracking and that it's linked directly to our bank accounts.

Cons

Mileage and depreciation tracking would be nice but not necessary. CPA's do that.

Vendor response

Thank you so much Lucas! We do offer mileage tracking and one-click reports to make depreciation easy for your CPA; feel free to reach out to Support for help with this.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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Property Management Software

Reviewed 2 years ago

Holistic view of the property valuation and cash flow. Tracking expenses and providing required profit and loss for accounting.

Pros

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.

Cons

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

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Great service that continues to improve

Reviewed 3 years ago

Fantastic! They have been responsive and very helpful with every question I've had. Highly recommend to everyone!

Pros

Easily track and update my rental portfolio. They help me track expenses and made tax time a breeze

Cons

New product that is still missing some features. Have to jump through some hoops to account for sold properties.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Infinite ROI

Reviewed 2 years ago

Eliminates the need for having a checking account for each investment

Pros

Fantastically organizes and maintains the ledgers on each of your RE investments. It's Quicken for real estate investors. Eliminates the need for having a checking account for each investment. At tax time, Stessa provides invaluable year-end reports. The ideal location to store relevant lease information - including a digital copy of the lease, move-in/out date, name of tenant, rent, market rent, etc...AND it's free!

Cons

Would like the ability to link outside banking accounts to get a better estimate of net worth. There's really nothing about the software that I dislike

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Stellar Platform with Amazing Customer Service and Great Regular Content

Reviewed 2 years ago

Phenomenal. I've working in management consulting implementing technology systems for years and know what a pain it can be to transition data to a new system - and this experience has been nothing short of awesome. I am thrilled not to be using my Excel pivot table reports or having to manipulate Xero, Wave, QBO, Netsuite, etc. to fit my needs as a real estate investor. Really, incredible strategic move on Stessa's part and we are thrilled end-users.

Pros

Ease of use, integration with current banking systems, and focus on real estate investors. I was planning to drastically manipulate Quickbooks to make it work like Stessa - Stessa basically eliminated all of that work AND has a gorgeous user interface compared to QBO or my rigid Excel sheets!

Cons

Some features are still in the works (e.g. they just implemented new functionality to demonstrate sale proceeds from a flip, and are working to integrate to reporting) - but that's it. Really, it is INCREDIBLY simple to use, and any time I've had a question I've gotten a detailed answer within 24 hours.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Incredible value

Reviewed 6 months ago

Stessa makes tracking all aspects of owning rentals easy. Incredible

Pros

This platform nails real estate management basics and is ever evolving to include new useful features like tad preparation documents.

Cons

No cons! Great team and product! Continual development of new features. The dev team is open to customer requests and acts on feedback.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Best rental management program I’ve found

Reviewed 2 years ago

I have looked for over 10 years for a program that would work for my husband and I to manage our own rental properties. We now own 15 long term and short term rentals and as much as I wanted to replace our customized excel spreadsheet, it still worked best for our needs after trying other programs specifically for investment properties or general accounting. I always gave up because it just didn’t...

Pros

Ease of use, categories, seamless and it just works effortlessly

Cons

At the moment any slight potential tweak I find it seems the staff quickly tries to resolve and fix so that it works even better

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Amazing Tracking and Reporting

Reviewed 2 years ago

I just started using it today so I haven't yet reaped the full rewards.

Pros

What I like most is the ability to track everything in a neat and professional looking software that automatically creates reports and tax prep documents. I had been keeping all of my records in a spreadsheet which made it very manual. This software has a lot of automated features that save a lot of time.

Cons

It makes me a little bit nervous connecting my financial institutions to the website in light of all the hacking going on these days. However, it's what allows a lot of the automation and I'm putting my trust in Stessa to keep myinformation safe.