All Forum Posts by: Tyler Koller

Hey, Tyler. I'm not a Stessa user, but I do use Baselane and I love it. You're right there that's not a single platform that does everything but I feel like Baselane comes close to it. I'm using the heck out of virtual accounts and virtual cards, which is helping keep my finances much more organized for each individual property. I also know that Baselane is continuing to evolve their app. You can't beat the price, either, or the interest rate on deposits. I don't personally care about checks anymore so that wasn't an important feature for me.

I think I'm going to Start with Baselane. How is it for preparing taxes?

0 Votes

Milwaukee, Wisconsin

Quote from @Jamie Banks:

I used Stessa briefly and I found that it didn't have all of the capabilities that I needed. I switched over to Baselane over a year ago and it has worked well for my growing portfolio. I have a mix of MTRs, STRs, and a room rental and I can perform all the needed property management and bookkeeping features on the site.

To pay my contractors and employees I collect their bank information and can send an ACH directly to their bank account.

Although Baselane doesn't have a formal app I find it very mobile friendly, I use it on both my iPhone and IPad

I think Baselane has a slight edge over Stessa so I think I'll start with them and switch to Stessa if it's not working for me.

0 Votes

Milwaukee, Wisconsin

Quote from @Cliff Benner:

I have not tried Baselane but I did try Stessa for a few minutes.

As an Accountant, I need to be able to make Journal Entries and that is something Stessa does not have so I deleted it right away.

For all my clients we sign them up with QuickBooks Online. Yes the Class feature Cost a bit extra which is a bummer bet the support for it is amazing, and it is easy to allow access for Tax Accountants to pull the reports they need rather than my clients playing middleman.

I originally looked into QuickBooks but it seemed very expensive for everything I would need it for. If you have just one business it's not too bad(My wife uses it for hers) but it starts to get really expensive if you have a lot of doors and or multiple businesses.

0 Votes

Milwaukee, Wisconsin

I have a mix of long term rentals and short term rentals and I'm looking for something to help organize all of my expenses and more. I currently use apartments.co for screening and rent collection. It would be nice if one app had it all but I don't think any are there yet. I really like that Stessa and Baselane offer high earning interest accounts and physical debit cards and sounds like Stessa offers checks. The biggest issue with Stessa is that it sounded like they had very low transfer maximums(making it difficult to pay people) but it looks like they've improved a little bit on that. Baselane seams to be more normal for transfer/deposit limits and you can create multiple virtual accounts for each property. Stessa has an app, and some other lease and screening features too but there is a 16/month fee to unlock all of the features. Baselane has lease, screening, and rent collection features too but no app but it's free.

Has anyone had experience using either or both? I've been leaning towards Baselane but Stessa seams intriguing as well.

2 Votes

Milwaukee, Wisconsin

All Forum Posts by: Tyler Koller

Tyler Koller has started 1 posts and replied 4 times.

Post: Baselane Vs Stessa

Post: Baselane Vs Stessa

Post: Baselane Vs Stessa

Post: Baselane Vs Stessa