Stessa Review – Pros And Cons: How To Manage Rental Assets

What Is Stessa Stessa is a cloud based Rental Asset Management software. One of the biggest mistakes landlords make; is not running their rental properties as a business.

Stessa is used for tracking the time and expenses over the course of property ownership.

Tracking the time spent on managing a rental property can save taxes by enabling us to use the QBI Deduction for Rental Property.

But it is more important to see how your rental properties are performing.

In addition to tracking rents and outgoing mortgage payments; landlords track all financial transactions. This includes expenses like repairs, insurance, utility bills, property management and any capital expense improvements.

It is also a good idea to keep your lease agreements, move-in/move-out inspection, appraisals, vendor contracts, insurance policies all together. Landlords have typically relied on filing cabinets and spreadsheets often misplacing documents. Or forgetting to include all financials during tax time.

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How Stessa Works The sign up process is quick and easy. If you do not already have an account; please sign up using my affiliate link. Select the number of properties you wish to manage using Stessa. Enter your property address and Stessa pulls in all relevant property details from Zillow.

Adding Bank accounts In Stessa Go ahead and link all your financial accounts which are used for all your business transactions. This includes your Mortgage bank, rent payment bank and credit card used for expenses.

Features of Stessa The software is broken up into 3 distinct areas Financial Dashboard Track my income and expenses Store Investment documents

Stessa Review: Cons Based on the amortization schedule of your mortgage payment; the amount applied to Principal and Interest changes each month. Stessa currently does not automatically split the monthly mortgage payment between principal, interest, escrow.

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