Stessa Real Estate Property Management Software Review 2023
With the help of our in-house editorial team, our platform’s members and external subject matter experts, this comprehensive review of Stessa property management software became possible and available for free to those considering this solution!
In this review we evaluated Stessa’s features, plans, pricing and other important aspects to help our readers make a more educated purchase decision.
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What Is Stessa?
Stessa is cloud-based financial tracking and property management software designed to help landlords and real estate investors streamline their business and grow their portfolios.
By using Stessa, investors can manage portfolios of different types, including single-family homes, vacation rentals, and short-term rental properties, among others.
Users can also fill up their vacancies, thanks to the rental application and screening services offered by the software.
As a cloud-based web app solution, Stessa can be accessed as a website via web browsers or as a mobile app (available on Google Play and iOS App Store).
What Is Stessa Used For?
Stessa software seamlessly integrates tenant application, rent collection, and accounting services into one robust real estate management solution.
The following are the various ways investors, landlords, and tenants can use the platform.
- Single-entry bookkeeping — Stessa lets users track and optimize their finances through simplified single-entry bookkeeping which is easier to read and interpret than traditional double-entry bookkeeping.
- Real-time financial reporting — Users can track all their transactions as they change in real time. The platform comes with several key metrics to help generate detailed and insightful reports.
- Receipt management — Investors can organize and store all transaction receipts on Stessa for future reference and accounting purposes. Users can also upload receipts for transactions done outside the platform.
- Free rental application — Landlords can create rental applications and send them to prospective tenants within Stessa software. Once sent, you can also track the status of the applications.
- Tenant screening software — Landlords can require shortlisted applicants to submit screening reports to find out more about their credit and criminal background.
- Lease management — After picking suitable candidates, landlords can upload lease agreements to Stessa and send them to the new renters.
- Tenant onboarding — With the click of a button, landlords can add tenants to their Stessa account and begin collecting rent payments.
- Bank account linking — Stessa allows users to add multiple real estate investor bank accounts to the platform for rent collection across different properties.
- Rent collection — Landlords and investors are able to receive rent payments directly to their bank accounts. The platform notifies you of payments and updates the books as payments come in.
- Automated reminders and tracking — Users can set up automatic rent payment reminders and track the rent payment status for every tenant.
- Automated rent payments — As a landlord, you can offer tenants the ability to set up automated recurring charges to prevent late rent payments.
- Landlord insurance — Stessa allows landlords and investors to purchase insurance coverages for their properties. To make this possible, Stessa has collaborated with third-party insurance providers.
- Data exports — Users can export and download all the reports that Stessa provides.
Stessa Users Breakdown by Specialty
- Real estate investors (landlords)
- Property managers
Is Stessa Legit?
Yes. Stessa is a legitimate property management and bookkeeping software for real estate investors that has been in service for more than five years.
In regard to security, the platform ensures user and data safety with robust encryption measures and multiple security layers.
Since its launch, Stessa has grown to become one of the most well-known real estate solutions, amassing tens of thousands of downloads across Google Play and iOS App Store.
The platform has also received numerous customer reviews on the app stores as well as on renowned real estate investor forums like BiggerPockets.
In 2021, Stessa was acquired by Roofstock, a renowned global real estate investment marketplace with customers across 70 countries and over $5 billion in transactions.
Stessa also has a strong and active social media presence, particularly on Facebook and Instagram where the company updates clients on new software features and company news.
In conclusion, users can be assured that Stessa is not a scam.
Stessa Customer Reviews
No customer reviews found
Stessa’s subscription plans are one of the platform’s top selling points.
The company provides two subscription plans to cater for both new and established investors: a free-for-life plan and a pro (paid) plan.
Essentials (Free) Plan
The Essentials plan is completely free to use and is the perfect option as rental property management software for small landlords.
As the name suggests, this plan provides real estate investors with the most essential services they may require for their business, including:
- Unlimited property tracking
- Unlimited document storage
- Add and manage one portfolio
- Centralized dashboard (key metrics)
- Mileage and manual expense tracking
- Smart receipt scanning (up to 5 per month)
- Basic reporting
- Full data export
- Basic tax package
- High-yield cash management (2.55% APY)
- Online rent collection
- Renter application and screening
Essentials plan users can upgrade to the Pro plan at any time to get more advanced features.
The Pro Plan costs $20 per month (or $16 if you choose to be billed annually).
By joining this plan, investors and landlords can enjoy the platform’s most advanced services and take the business to the next level.
In addition to the services offered in Essentials, here’s what you get in the Pro plan:
- Manage unlimited portfolios
- Unlimited smart receipt scanning
- Centralized dashboard (key metrics and full chart history)
- Budgeting and pro-forma analysis
- Advanced reporting (including SREO reports)
- Advanced tax accounting (CapEx and Schedule E)
- High-yield cash management (4.55% APY)
- Accelerated rent payments
The Pro Plan is best suited for established investors with large real estate portfolios.
Stessa Coupon & Promo Codes
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Stessa takes investors through the entire rental management funnel, from online renter application to rent collection and accounting.
The following are the main features of Stessa software for real estate investors.
Online Rental Application
Stessa allows users to create online rental application forms and send them to applicants without leaving the app.
You can also require applicants to submit official screening reports to find out more about their credit, criminal, and rental history. Candidates incur the cost of tenant screening reports.
Once you’ve found suitable candidates, you can begin the process of onboarding them.
You’ll be able to add new tenants to your account, upload and save the leases, and start collecting rent.
Unlike generic accounting solutions, Stessa’s property management accounting software is tailored specifically for investors with multiple properties since the software allows you to open a dedicated checking account for each rental property.
Although Stessa isn’t a banking institution, the company has partnered with a bank (Blue Ridge Bank) to enable users to create Stessa bank accounts.
You can use the accounts to track expenses and pay vendors, among other functions.
Furthermore, the Cash Management accounts earn interest. Essentials users can earn an APY (annual percentage yield) of up to 2.55% while Pro users earn up to 4.55%.
Besides cash management accounts, you can also link your existing bank accounts to Stessa to receive rent payments
Once you’ve onboarded tenants, you can add them to your real estate investor CRM and begin collecting rent from them. Here are other functionalities found on the Rent Collection module:
- Set up automatic reminders — Landlords can set up rent payment reminders that will be sent out automatically at scheduled times.
- Set up automatic rent payment — As a landlord, you can provide your tenants with the option to pay rent automatically. Tenants, on the other end, will be able to schedule recurring ACH payments to avoid late payments.
- Real-time notifications — Stessa’s property management billing software will notify you of rent payments immediately the money is deposited in your account.
- Excellent security — Thanks to a partnership with Plaid, Stessa keeps all landlord and tenant information safe.
There is numerous paperwork involved in rental property management, and with Stessa, users can easily organize and store all documents involved, including:
- Lease agreements
- Property management contracts
- Insurance policies
- Vendor receipts
- Settlement statements
With Stessa, users can upload all relevant documents, assign them to different properties or units, and sort them by date, property, and type of document.
Real-Time Financial Reporting
By utilizing Stessa in your business, you can generate updated reports at any time and for any portfolio. This accounting software for landlords currently provides four built-in report categories:
- Income statements
- Net cash flow
- Capital expenses
- A tax package
All reports can be exported to your local device.
In addition to generating downloadable reports, users can view online reports in real time at a glance, with visual representations.
Stessa has partnered with Steadily to provide property owners with landlord insurance policies meant to cover their property against damage.
For landlords with existing policies, Stessa allows you to get a Steadily quote (for free) to find out whether you can save on your existing policy.
Mobile App Access
Stessa comes with a corresponding mobile app for Android and iOS devices. The apps are as robust as the website version to allow landlords to manage their business on the go.
Additionally, the mobile app can be used by both landlords and tenants. Renters can complete rental applications, add their bank accounts, and set up automatic payments within the app.
Stessa Pros and Cons
- There is a free-forever plan for users who are just starting out in real estate investing.
- The platform is easy to use, thanks to a simple yet attractive user interface.
- Pro users can earn up to 4.55% APY on their money which is higher than most business savings accounts.
- Users can capture and scan receipts through the Stessa app and add them directly to their accounts.
- Stessa allows you to add users, such as property managers or business partners, and set access permissions for each user.
- You can integrate the platform with AppFolio to automatically import transactions each month.
- There are limitations when trying to customize the current reports or build other types of reports.
- Stessa lacks some essential services required for rental property management such as maintenance management and landlord-tenant communication.
- Rent Manager
- Rentec Direct
Awards & Recognition
Best Free Property Management Accounting Software Tool (Awarded by Real Estate Bees)
Press & Media
Does Stessa have a free trial?
No. The company, however, provides an entirely free version of the software that comes with all the necessary features a real estate entrepreneur may need to manage their portfolio.
How many clients does Stessa serve?
There is no concrete data on the number of customers the software has.
Still, the Stessa app has received over 20,000 downloads and numerous customer reviews across Google Play and iOS App Store, indicating a considerable client base.
Who founded Stessa?
Stessa rental property software was started in 2016 by Heath Silverman and Jonah Schwartz, two long-time real estate investors with robust backgrounds in technology and real estate.
They created the software to manage their quickly growing portfolios and streamline day-to-day property management operations.
Both founders serve in the company in defined roles: Heath Silverman serves as CEO while Jonah Schwartz is the CTO.
What is Stessa’s customer service number?
Customers and prospective users can contact Stessa via the company’s customer service line: (415) 985-7837.
You can also reach out to the company via email by sending your enquiries to [email protected] or through the Contact Us page.
What is the Stessa cancellation and refund policy?
All purchases (including subscriptions and third-party services) are final and non-refundable unless required by law.
Users are also free to cancel their Stessa Pro subscriptions at any time. When you cancel your subscription, the current subscription will remain active until the next billing cycle when Pro services will be revoked.
Is Stessa safe?
Yes. According to the company website, Stessa utilizes multiple layers of security across various software components to safeguard all your personal and financial data.
Furthermore, users are instantly notified of suspicious account activity and account changes.
The company also runs regular scans on the Stessa website and application for malware and other security vulnerabilities.
Why is Stessa free?
Stessa provides a free version to enable users to try out the platform before committing to a pro subscription.
Additionally, the free version offers basic yet necessary services which are great for new real estate investors with small portfolios.
How does Stessa make money?
Stessa makes money through its subscription plan and by providing users with several third-party features used in real estate investing such as mortgage lending and insurance services.
Is Stessa suitable for short-term rentals?
Yes. With a few tweaks, property owners can manage their vacation and Airbnb properties.
To get started, download your Airbnb transactions history (CSV format) and upload it to your Stessa account to populate your income and expense ledger.
You can then use Stessa’s short-term rental categories to manage your short-term rentals.
Stessa Tutorials & Training
How to Use Stessa
Is Stessa Worth It?
Well, that depends. Stessa is an excellent solution for both new and experienced real estate investors who are primarily focused on accounting services.
By using the platform, investors and landlords can add multiple properties and manage their individual finances with ease.
Stessa, however, lacks several services a rental property manager or owner may need to manage the business.
Features such as maintenance management, communications tools, and eLeasing are not available — you may need third-party apps for these services.
- Website: Official website
- Phone: (415) 985-7837
- Email: [email protected]
- Address: 2001 Broadway, Suite 400 Oakland, CA 94612
- Socials: Facebook, Instagram, Twitter, LinkedIn