All Forum Posts by: Anthony Spallone

Hi everybody. I appreciate the responses! 

Hey Jay. Thanks for the response. Did you read my post? Did you see our concern about why it is free? It seems like a great system but I struggle with the privacy issue. That’s my concern at least and why I’m thinking of going with QuickBooks instead. 

This is a great question. I currently have eight units and I'm trying to figure out what the best way forward with a management system that isn't Quickbooks because I feel like it has too many features we don't need and is too expensive for us with the subscription. I do not know the answer to this. I know some Stessa employees have responded on other forums and it would be good if they could address this. This is what they have on the website and I want to know what this means in plain terms. 

https://www.stessa.com/privacy

Hi, I own three properties with eight units (we live in one). The first property has three units, the second property has three units, and the third property is our primary residence with a unit. We have decided to not put them in an LLC right now and we have been collecting rent and paying bills in a personal banking account. We record all our expenses and whenever we have repairs/improvements we save the receipts for everything for our taxes for legal deductions. We need a better system for keeping receipts and we need a better system for doing our monthly budgets. We would like to have a different bank account for each property. We are open to ideas and would just like to hear if there are people in our situation who have figured out a manageable way to do this. We have gotten to the point to where we need to make this more manageable, especially with all the repairs for tax purposes. That is a bit of our situation so here are our specific questions.

1) How would you do your budget for three separate properties with eight units where you live in one of the units?

2) How do you have your tenants pay you rent? We are currently using Zelle but that goes into our personal bank account and we would like to give the tenants the option to pay online with a credit card or send money to an account that is only for that property but not sure how to set that up with something like Zelle. 

3) How you record repair/improvement receipts and do you have a system that syncs with your budget? We are currently doing it manually on google sheets. 

4) Any other advice for us? 

Thank you for taking the time to read about our situation! We are currently located in Central New Jersey and would love to connect with others who are in our general area.

Anthony