Introduction
Are you a real estate investor looking for an effective way to manage your properties and optimize your returns? If so, you may want to consider using a property management platform like Stessa.com. Stessa.com is a cloud-based software platform that offers a range of features to help real estate investors manage their properties more efficiently.
Founded in 2016 and based in San Francisco, Stessa.com provides a user-friendly interface that allows investors to track their income and expenses, monitor the performance of their properties, and generate financial reports. The platform integrates with your bank accounts and automatically categorizes your transactions for you, making it easy to track your financial data in real-time.
Stessa.com also offers tax optimization features to help investors save money on their taxes, including identifying tax deductions and generating tax forms like Schedule E and 1099 forms. The platform also offers integration with other real estate platforms, such as Airbnb and Zillow, making it a versatile and convenient solution for managing your real estate investments.
In this in-depth review of Stessa.com, we will take a closer look at its features, pros, and cons, as well as how it compares to other property management platforms. Whether you’re a new investor or a seasoned pro, read on to discover whether Stessa.com is the right choice for your property management needs.
What is Stessa.com?
Stessa.com is a cloud-based property management platform designed to help real estate investors track and manage their portfolios. The platform allows users to aggregate data from various sources, including bank accounts, property management software, and accounting software. With Stessa.com, users can track income, expenses, and other key metrics, making it easier to manage their portfolios.
Features and Benefits
As a rental property owner, managing your finances can be a time-consuming and overwhelming task. Traditional double-entry bookkeeping can be overkill, and manually tracking expenses can be a headache. Fortunately, there is a solution – Stessa.com’s property management platform offers advanced software purpose-built for landlords to track and optimize their rent and operating expenses.
With Stessa.com, rental property accounting is simplified with single-entry books. This makes it easy for landlords to focus on growing their portfolios, instead of getting bogged down in complex accounting processes. Additionally, Stessa.com automatically imports, categorizes, and indexes all your expenses, seamlessly connecting to your banks, lenders, credit cards, and property managers. This means you can see all your data in one place, without having to waste time hunting down transactions.
One of the biggest advantages of Stessa.com is its real-time dashboards and advanced reports. Most rental property owners fail to track key financial metrics properly, but Stessa.com’s platform helps you own and manage your properties like a pro. You can easily make smarter decisions with accurate reporting and analysis, giving you a clear picture of your financial health.
Stessa.com also offers an innovative solution for organizing receipts. Say goodbye to the shoebox and hello to a hassle-free way of recording your deductions. Stessa.com allows you to capture, automatically read, and categorize your receipts with a click or attach a photo later. You can be confident that all your deductions are recorded and easily accessible when tax season comes around.
In summary, if you want to simplify your rental property accounting, Stessa.com’s property management platform is an excellent choice. With its user-friendly interface, automated expense tracking, and powerful reporting features, you can save time, optimize your finances, and focus on growing your portfolio.
Data Aggregation
One of the most significant benefits of Stessa.com is its ability to aggregate data from various sources. With the platform, users can connect their bank accounts, property management software, and accounting software, making it easier to track income, expenses, and other key metrics.
Automated Reporting
Stessa.com also offers automated reporting, which can save users a significant amount of time. The platform can generate reports on cash flow, net income, and other metrics, making it easier for investors to make informed decisions about their portfolios.
Portfolio Analysis
Stessa.com provides investors with a comprehensive overview of their portfolios. The platform allows users to analyze their properties by location, type, and other key metrics. This feature can help investors identify trends and make more informed investment decisions.
Document Management
Stessa.com also offers document management features. Users can upload lease agreements, contracts, and other important documents to the platform, making it easier to keep track of important information.
Tax Preparation
Stessa.com can also help investors prepare for tax season. The platform generates tax-ready financials and provides users with a detailed breakdown of their expenses, making it easier to file their taxes.
Pricing
Stessa.com offers two pricing plans: a free plan and a premium plan. The free plan includes basic features, such as data aggregation and automated reporting. The premium plan, which costs $15 per month, includes all of the features available on the free plan, as well as portfolio analysis, document management, and tax preparation.
| Plan | Annual | Monthly |
|---|---|---|
| Essentials | Free | N/A |
| Pro | $192 ($16/month) | $20/month |
| Features | Essentials | Pro |
|---|---|---|
| Asset management | Unlimited | Unlimited |
| Properties tracked | Unlimited | Unlimited |
| Property manager connections | Unlimited | Unlimited |
| Real estate document & receipt storage | Unlimited | Unlimited |
| Share with business partners | ✓ | ✓ |
| Advanced ownership reporting | x | ✓ |
| Portfolios managed | 1 | Unlimited |
| Centralized dashboard | ✓ | ✓ |
| Key metrics | ✓ | ✓ |
| Full chart history | ✓ | ✓ |
| Bookkeeping & accounting | Manual expense tracking | Manual expense tracking and automated bank feeds |
| Mileage tracking | ✓ | ✓ |
| Smart receipt scanning | 5/month | Unlimited |
| Budgeting and Pro-Forma analysis | x | ✓ |
| Full data export | ✓ | ✓ |
| Basic reporting | ✓ | ✓ |
| Advanced reporting | x | Additional reports including SREO |
| Accountant tax package | Basic tax package | Plus CapEx and Schedule E |
| Banking | FDIC insured up to $250k/entity, no minimum balance, 1.1% cash back on purchases | FDIC insured up to $250k/entity, no minimum balance, 2.55% APY for Cash Management |
| Online rent collection | ✓ | ✓ |
| Automated reminders and late fees | ✓ | ✓ |
| Tenant expense charging | ✓ | ✓ |
| Tenant autopay | ✓ | ✓ |
| Tenant ledger and rent roll | ✓ | ✓ |
| Accelerated rent payments | x | ✓ |
| Tenant screening | Application management, credit checks, background screening, tenant pays | Application management, credit checks, background screening, tenant pays |
Note: All plans include online support, mobile access, and secure data storage.
Customer Support
Stessa.com offers customer support via email and phone. The platform also has a comprehensive knowledge base, which includes tutorials, FAQs, and other helpful resources.
Security
Stessa.com takes security seriously and uses bank-level encryption to protect user data. The platform is also SOC 2 certified, which means that it meets rigorous standards for data security.
Pros and Cons
Pros
- Stessa.com offers a wide range of features, including data aggregation, automated reporting, portfolio analysis, document management, and tax preparation.
- The platform is easy to use and can save investors a significant amount of time.
- Stessa.com offers a free plan, making it accessible to investors on a budget.
Cons
- The platform may not be suitable for investors with large portfolios or complex needs.
- Stessa.com’s customer support is only available via email and phone, which may not be sufficient for some users.
- The platform may not be suitable for investors who prefer to manage their portfolios manually.
Conclusion
Stessa.com is a powerful property management platform that offers a wide range of features to help investors manage their portfolios. The platform’s ability to aggregate data, automate reporting, and provide portfolio analysis can save investors a significant amount of time. While the platform may not be suitable for investors with large portfolios or complex needs, it is an excellent option for investors who are looking for an easy-to-use platform
