Stessa vs. QuickBooks vs. Other???

Question

I've been looking through the forums over the past couple days to try and find an answer, but haven't really come across many posts that are more recent. I am looking into accounting/bookkeeping software to use for my rental property business (LLC), and I was wondering what people preferred? I currently do not have any properties yet, and when I do I will be hiring a property manager. I would like to scale up to at least 40 single-family and small multi-family homes.

I saw a lot of posts ranging from 1-5 years ago that recommend QuickBooks Online Plus, but it seems pretty pricey for only trying to obtain at least 3 properties within the next year, and Stessa is the only other competitor that I can find detailed reviews on. The only thing that I don't like about Stessa was the wording in the terms that said that you authorize them to have power of attorney, and it's not very clear on what specifically they would use it for.

If you use or know someone that has used any of the programs below, what are your thoughts on me using them for my situation? Any other options that you might recomend?

Stessa

Rentastic

TenantCloud

Rental Hero

QuickBooks Online Plus

Alexander Kleyman · Answer

I am kind of in the same situation as you, small # of properties currently but want to be on the right track from the start. So I use Stessa for all the financial accounting and TenantCloud for more of the property management and rent collections. I pay $9/month for TC as it provides ability to do digital leases. I found that TC is not as detailed for financials.

Kyle O'Donnell · Answer

@Alex Geesey

I am a newbie as well but have used Stessa for the past 1.5 years per the recommendation of my accountant. I have a personal aversion to excel. Stessa it has been great. I also use cozy.co for my application process and payment collecting￼.

Both cozy and stessa (assets spelled backwards) are free and very good IMO. I manage my own properties.

David Richter · Answer

Hi @Alex Geesey,I'd consider Wave apps. It's free accounting software and great for the stage, you're in. QBO can be expensive if you aren't doing a lot of deals but a lifesaver once you scale.

Alex Geesey · Answer

@Kyle O'Donnell thanks for the info! I'm the same way with excel. I used it a lot as an intern in college while working with small businesses. I don't have any properties yet, but Stessa seems pretty simple and easy to use so far.

Right now I'm working towards having my properties managed by a property manager, but have been considering doing one or two properties myself just to add the experience to my skillsets a little more. So, I will be sure to keep Cozy in mind if I go the route of self managing!

Alex Geesey · Answer

@Alexander Kleyman Thank you for your response! I think I'm going to give Stessa a try. It seems like the best option for me at this time.

Basit Siddiqi · Answer

@Alex GeeseyQuickbooks online plus runs at $70 a month which comes out to about $840 a year.You may want to consider Quickbooks desktop which runs around $200 and will last 3 years.Banks normally charge a $15/month charge to sync your bank to your quickbooks. This is likely a cheaper alternative.If you have only a few amount of properties, excel is a great alternative. You can export all the information from your bank account to excel and categorize your transactions properly.Good luck!

Cody Lewis · Answer

I've heard some good things about Freshbooks from some previous peers that were tired of using Quickbooks. https://www.freshbooks.com/acc...

Bryce Matheson · Answer

Big fan of Rentastic here, and that's what I use. Stessa is pretty good for too, but I found I didn't like their UI as much.

Alex Geesey · Answer

@Gary Abner I haven't really gotten to use Stessa too much since I don't have any properties yet, but it does seem really simple and easy to use!

Gary Abner · Answer

How have you liked stessa?

Stessa vs. QuickBooks vs. Other???

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