Stessa Reviews

“Incredible value

Pros

This platform excels at the fundamental aspects of real estate management and continuously evolves to include new, useful features like tax preparation documents.

Cons

No downsides at all! The team and product are great! They continually develop new features, and the development team is open to customer requests and acts on feedback.

“Makes my life so much easier!

Pros

I love the effortless expense and income tracking, especially since it's directly linked to our bank accounts.

Cons

Mileage and depreciation tracking would be nice, but it's not necessary. CPAs handle that.

“Perfect for Rental Owners

Pros

I've been using QuickBooks for years but grew tired of their constant marketing techniques and gimmicks. It felt like every time I opened the program, there were new hoops to jump through just to get work done. Stessa on the other hand, is designed specifically for rental property owners. I enter income and expense items, and that's it. Each item falls into one of their well thought out categories. It seamlessly handles multiple locations and units. I can add or sell buildings, add or replace tenants, run targeted reports, export year-end data to my accountant, and visually analyze my performance. Even more impressive is the ability to auto import entries from bank accounts, credit accounts and more. Once I'm up and running, all my data is entered for me to edit or delete as needed, saving me a ton of time. Oh, and did I mention it's free? I'm not sure about the long term plan, but this software won't cost you a dime. It makes QuickBooks look outdated, cumbersome and downright annoying, which it has become over the years.

Cons

This isn't a property management platform in the traditional sense, where you can schedule maintenance and track hours. However, you can capture and import invoices, so all your records are in one place.

“Stessa is a game changer for the independent rental owner.

Pros

Stessa provides the most user-friendly and purpose built rental property financial software that I've encountered. Many of my colleagues still struggle with overly complex general accounting software or, even worse, manually tracking everything in Excel. Stessa not only automates the majority of my bookkeeping but also offers real-time reporting, allowing me to quickly identify any anomalies in my asset performance. While other property management software may offer expense tracking or basic accounting features, Stessas exclusive focus on the financial aspect of rental property ownership enables them to provide a more comprehensive and innovative feature set.

Cons

As a single entry accounting system, it does come with all the drawbacks associated with that method of accounting (no cross-checking, greater potential for error, no tracking of real accounts, etc.). However, this was a deliberate design decision to make the software more user-friendly for the average rental owner. While it may lack the sophistication of a double-entry system,Stessa has found 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.

“Game Changer

Pros

The setup and usage are a breeze. The interface is incredibly intuitive and straightforward.

Cons

I have experienced issues with data sources disconnecting.

“Incredible product for managing my rental properties

Pros

I adore the ability to track all my transactions for each property in my portfolio. Additionally Stessa offers excellent features like splitting transactions into relevant categories such as principal, interest, and escrow for mortgage payments. The new reporting packages are a fantastic addition.

Cons

I would love to see the ability to copy transactions or have an autofill function (like Google search) for common transactions. The main dashboards could also use some tweaking for comparing long-term vs. short-term rental properties.

“1 Stop Shopping...

Pros

The integration is effortless, and the reports are highly useful. It's a great value for the price.

Cons

There were some small glitches during the initial setup but it was mostly user error!

“Best free real estate landlord software

Pros

Stessa allows me to track cash flow, maintain a balance sheet, store and retrieve documents, and provides a dashboard of key performance indicators.

Cons

Not much, they are constantly adding new features.

“A must have software program for Landlords

Pros

Stessa software is the simplest program for managing my rental properties. I love how I can set up a property profile and connect it to the respective bank account, and Stessa automatically uploads my transactions and notifies me to review them. Every month, I receive updates on my cash flow. This program is a no brainer for anyone who owns or manages multiple properties, as it allows me to view them collectively or individually with ease.

Cons

Setting up the initial property details was a bit confusing for me, but once I familiarized myself with the program and how to add information, it became much more user-friendly.

“Issue with bank integration

Pros

The user interface is incredibly intuitive, and the best part is that its free. The workflow is logically organized.

Cons

I concur with a few other reviews regarding the software's financial aspects. It doesn't allow filtering rent if you have connected personal accounts for personal properties. Additionally it lacks seamless integration with the bank on a daily basis. I have to manually retrieve data every time I use it. Two factor authentication via text message would have been a preferable option over an authenticator. The reports generated are insufficient, and there is a need for more integration of property management tasks.

“The easys way for handling my rental apartments

Pros

The simplicity of use is incredible, and the tax packages are fantastic.

Cons

Sometimes, I find myself checking the same expenses multiple times before they are automatically recognized.

“Perfect for Investors just getting started

Pros

This software is incredibly easy to use and set up. It guides you through the property setup process with simple, step by step questions. You don't need extensive knowledge of accounting or accounting software because the software sets up the structure for monitoring and tracking your real estate transactions. At the end of the year, you can easily generate financial reports for your accountant. I use it monthly, and entering transactions takes less than 5 minutes.

Cons

There are no options for categorizing HOA fees in the "money going out" section. I include them under the Management fees category. It would be great to have a separate category for HOA fees.

“Easy to use and fantastic customer service!

Pros

Stessa makes it a breeze to assess the performance of my real estate portfolio. No more manual calculations in Excel for me!

Cons

Nothing at all. They continuously update and enhance the functionality!

“Great Product

Pros

Since Stessa is cloud based, theres nothing to install. Setting up the first few properties was quick and easy. Backfilling data was relatively straightforward, and the software seamlessly pulled data from my bank, even with two factor authentication. It could also extract data from my property managers software, which was essentially a zip file containing receipts and PDF owner reports.

Cons

I discovered that I have duplicate items from different data sources that I set aside in a "For Audit" bucket (similar to a company entity). While these duplicates are ignored in the actual company buckets, they are included in the 'all companies reports"

“Very happy with it

Pros

Stessa keeps all my information in one place and is easier to use and track compared to Excel.

Cons

It takes time to initially enter all the data, but it's worth it once you do it.

“Amazing App For New Real Estate Investors

Pros

I love how easy it is to connect my business checking account and business credit card. It streamlines my financial management.

Cons

I am unable to perform split transactions, and I recently learned how to generate reports.

“Love this site

Pros

This site has significantly improved my ability to manage my rental properties efficiently. All my accounting and information about interest rates, insurance, etc, are easily accessible in one place. The reports provided by Stessa make reviewing everything a breeze. Its also a great tool for tax preparation.

Cons

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

“Best tool for tracking RE expenses

Pros

Stessa has transformed how I track my real estate expenses, making my life much better. I can now focus more on investing and worry less about expense tracking.

Cons

I would appreciate more detailed control over what I can share with investors.

“Amazing Dashboard and Accounting Software for Investors

Pros

The dashboard allows me to quickly view equity, cash flow, vacancy, debt, expenses, and more for all my portfolios. Its excellent software! I'm also thrilled to have my accounting integrated in one place.

Cons

I know that the Stessa developers are working on the Android App, Email Receipt functionality, and other features. I believe this product will only improve with time!

“Making life easier

Pros

This software effortlessly manages my multi-family rentals. Transactions can be automated or manually entered without any hassle.

Cons

At the moment, I don't have any drawbacks with this software.