Stessa

Stessa is a game changer for the independent rental owner.

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.

Stessa Support is non-existent

Comments: terrible.. I want my money back but no one will respond since day 1

Pros:

ease of use, ease of setup

Cons:

support

Buyer Beware

Cons:

I’ve been using Stessa to manage my rental properties for a year and a half. Recently discovered that hundreds of receipts are missing. Stessa is unable to assist; Offers no resolve. They also recommend that you check every receipt every month. It is not a reliable product.

Ease of Use

Comments: Able to pull reports quickly and professionally.

Pros:

The ability to track every important metric used by investors in real estate.

Cons:

I wish the system would track owner financing deals

Fantastic Software

Comments: 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.