Bewertet am 16.10.2019
Kommentare: 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).
Vorteile: 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.
Nachteile: 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".
Bewertet am 22.5.2019
Really helpful for portfolio analysis and organization
Kommentare: 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.
Vorteile: 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!
Nachteile: So far I have no complaints at all about this software.
Bewertet am 17.1.2019
Two thumbs up for Stessa: What-gets-tracked-gets-improved made easy.
Kommentare: 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.
Bewertet am 24.11.2019
Easy to use and fantastic customer service!
Kommentare: 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!
Vorteile: Stessa makes it easy to look at the performance of my real estate portfolio.No more manual math in Excel for me!
Nachteile: Nada. They continue to update and improve the functionality!
Bewertet am 6.8.2019
Amazing App For New Real Estate Investors
Kommentare: This has really helped me start organized as I start up our real estate investing portfolio.
Vorteile: I love the ease of use and ability to connect to my business checking account as well as my business credit card.
Nachteile: Inability to do split transactions and didn’t know how to pull reports until recently.
Bewertet am 19.11.2019
Game-changer for independent rental owners
Kommentare: Most people purchase rentals for the passive income, but once they actually become an operator they realize it is often anything but. While many other proptech companies have tackled the property management aspect, few have offered solutions for the asset management side of the business as well as Stessa has. Automating income and expense data not only frees me from tedious bookkeeping tasks, but it greatly reduces the risk of manual data entry error. The dashboard gives me important at-a-glance metrics so I can easily track my properties performance over time. And the new document storage feature keeps me far more organized than my former decentralized approach of saving files between various other cloud storage services.
Vorteile: Automated income and expense tracking, at-a-glance performance metrics, document cloud storage, AI receipt scanning, easy tax reporting
Nachteile: As a cash-based, single entry accounting system this will not necessarily work as well for larger, more complex operations. Mileage entries are manual, unlike the automated tracking solutions offered by other apps on the market.
Bewertet am 28.7.2019
Love this site
Vorteile: 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.
Nachteile: Doesn't yet integrate with enough small banks, so I have to manually upload my transactions ever month via Excel.
Bewertet am 18.4.2019
Just what the doctor ordered. No-one is doing this!
Kommentare: 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.
Bewertet am 19.3.2019
Property Management Software
Kommentare: Holistic view of the property valuation and cash flow. Tracking expenses and providing required profit and loss for accounting.
Vorteile: 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
Bewertet am 28.1.2019
Great service that continues to improve
Kommentare: Fantastic! They have been responsive and very helpful with every question I've had. Highly recommend to everyone!
Vorteile: Easily track and update my rental portfolio. They help me track expenses and made tax time a breeze
Nachteile: New product that is still missing some features. Have to jump through some hoops to account for sold properties.
Bewertet am 9.5.2019
Kommentare: Eliminates the need for having a checking account for each investment
Vorteile: 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!
Nachteile: 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
Bewertet am 14.2.2019
Stellar Platform with Amazing Customer Service and Great Regular Content
Kommentare: 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.
Vorteile: 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!
Nachteile: 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.
Bewertet am 15.3.2019
Hallelujah for simplicity! Thank the Lord for value!
Kommentare: There are two great things about this software. It's simplicity and it's value. I am able to track the financial aspect of real estate investments without getting bogged down in hard to comprehend financial language. I was able to dive right in and get started with needing training or assistance. The value could not get any better as it is FREE for individual investors such as myself. This software is perfect for folks who are investing on the side and trying to grow a real estate rental portfolio. You can keep it simple with one property or take advantage of the room to grow the platform naturally provides.
Vorteile: Stessa is easy to use and keeps things simple and straightforward. I like how I am able to quickly add transactions with the terms "Money In and "Money out". The Reporting function allows me to quickly get a snapshot as to whether or not my property is making money. Plus, it's easy to print those reports and hand them over to your CPA at tax time. I only manage one property right now, but it looks like I will be easily able to expand and add more properties over time. How great to be able to track them all in one place! Getting snapshot views of properties individually or as the entire portfolio is pretty darn great.
Nachteile: I manage a rental condo and I would love it if there were a transaction signifier for HOA fees.
Bewertet am 11.2.2019
Best rental management program I’ve found
Kommentare: 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 quite work well enough. Stessa has been the only program that I have found that is easy, seamless and still tailored to every property we own. I can finally get rid of the old spreadsheet. I can’t wait for tax season next year where I have a full year of management with Stessa. It has made attaching receipts, invoices and cash flow so easy. I am so thankful and excited to have stumbled across this program. It works.
Vorteile: Ease of use, categories, seamless and it just works effortlessly
Nachteile: 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
Bewertet am 1.3.2019
Amazing Tracking and Reporting
Kommentare: I just started using it today so I haven't yet reaped the full rewards.
Vorteile: 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.
Nachteile: 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.
Bewertet am 2.6.2019
Great looking tool
Kommentare: I'm pretty satisfied with it. How can you complain about something with no cost to it?
Vorteile: It's pretty simple to use. If you can't see what to do, there isn't much to search around for to figure it out.
Nachteile: The upload CSV feature doesn't make any sense. It needs more columns, that way I don't have to go and massage every upload to get the item into its proper subcategory. Interestingly though when you download the CSV, all the columns are there.
Bewertet am 29.5.2019
Best income property software on the market!
Kommentare: I submitted the 2018 reports to our accountant and he loved them. So much easier than the Excel spreadsheet and shoebox of receipts!
Vorteile: 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.
Nachteile: It would be nice if a Rent Roll report was available, by property and by portfolio.
Bewertet am 20.5.2019
Now and invaluable tool for my real estate investing business
Vorteile: 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.
Nachteile: Only con for me is that I can't get the mobile app in Canada.
Bewertet am 11.1.2019
Very nice platform
Kommentare: Really like it. I had built my own excel sheets but this combines all properties together which is really nice for broad view of my portfolio.
Vorteile: Ease of use. I was able to link my bank accounts and it sends all the transactions through which I can then categorize. Also nice that they have a phone app so I can quickly categorize items on the go. They are also very responsive with any questions and helped me retroactively add my own excel sheets to capture the full year
Nachteile: There is a little bit of front end work but that’s going to be the case no matter what... I would like to program certain monthly items to auto categorize which I think is an option but have not looked into as of yet.
Bewertet am 10.6.2019
Making life easier
Kommentare: Stessa has made the monitoring and managing of my multi-family rentals very easy. It gives you a nice snapshot of your properties performance at any time.
Vorteile: The software allows me to easily manage my multi-family rentals. Transactions can be automated and or easily entered manually.
Nachteile: I do not have any cons at the moment with this software.
Bewertet am 12.1.2019
Kommentare: Positive, I have already recommended it to my colleagues. Customer Service getting back to me so quick. So I didn’t get overly frustrated and give up.
Vorteile: The customer service! Devin always got back to me within 24 hours. Great n very patient w all my questions. Didn’t make me feel dumb. Taxes will be much easier this year. You’ve given my accountant hope and his sanity back, lol. Love the reports the app gives you from transactions info!!
Nachteile: Wish the transactions could show on my laptop. It would be much easier for setting up reports. 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. A lot of scrolling.
Bewertet am 3.5.2019
Excellent Product and Customer Support
Vorteile: 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. Will definitely recommend Stessa to other investors.
Nachteile: There is no app for Stessa which makes it difficult to manage on the go.
Bewertet am 18.2.2019
Great solution to start with, added benefits keep growing
Kommentare: Enables a snapshot view of the performance of my company that I didn't have in one place. Free solution and it's getting better every week.
Vorteile: It allowed me to get out of Excel manual entries for multiple properties for transaction reporting. The dashboards and added functionality such as better reporting, blogs, and downloads are a great plus. Owners respond directly to your questions. Great work!
Nachteile: I joined 2H of last year and the backlogged entries only went back a couple weeks (at the time). I had to manually enter all 1H transactions, which wasn't too bad. If I started near the beginning of the year it wouldn't have been an issue.
Bewertet am 4.5.2019
Stessa for the small business
Vorteile: The value you get out of the free version is immense. I have eliminated 4 or 5 spreadsheets with stessa. Would recommend 10/10
Nachteile: They are still working through some features that currently need a work around
Bewertet am 13.1.2019
Nope. Not gonna do it.
Kommentare: See above
Vorteile: None- I never got that far. Maybe it's good, but I won't give out sensitive into to a stranger
Nachteile: 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.
Antwort des Softwareanbieters
von Stessa an 15.1.2019
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.