Upgrades Mobile App to Capture and Automatically Organize Property Expenses into Real Estate Tax Categories for Free
SAN FRANCISCO (October 30, 2018) – Real estate investors with single-family rentals and multifamily properties can now use Stessa to organize their financials in one easy-to-use, free service. The company, which came out of beta today, also announced significant enhancements to its mobile app, which lets users easily scan and track property-related receipts on the go. All receipts scanned with the mobile app are automatically available on the online platform, so you have a complete picture of your property expenses that’s available from anywhere.
Tracking property income and expenses and monitoring performance for rental properties manually is time consuming and tedious. Stessa is the first service designed specifically for the millions of small and medium-sized rental investors who are mainly using an elaborate system of paper and manual spreadsheets to manage their properties. Stessa uses technology to automate the busy work and report on key metrics so that property investors always have a current view of how their portfolio is performing. Once users add a property and securely connect bank, mortgage and property management accounts to Stessa, income and expenses update automatically as new information becomes available.
- Intuitive Reporting Dashboards: View your entire portfolio in one streamlined dashboard which automatically calculates key metrics and provides a clear picture of your real estate investments.
- Automated Income & Expense Tracking: Connect your bank, mortgage and property management accounts to Stessa to sync all transactions in real-time. Capture and scan receipts for property expenses on the go with the iOS app.
- Property Manager Integration: If you work with a property manager that uses supported services, Stessa will import your monthly income and expense transactions automatically so you can track rent payments, fees and other expenses in one place.
- Tax-Ready Financials: Stessa makes it easy to organize and effortlessly manage all of your property finances in one place, making tax time a breeze.
- Portfolio Collaborators & Permissions: Invite key members of your team to your Stessa account with access levels that you control based on each member’s role.
- Bank-Grade Security: Stessa was designed from the ground up with multiple layers of security and features bank-grade encryption to keep customer financial data safe and secure.
The upgraded Stessa mobile app makes it simple to capture and organize property-related receipts from anywhere. Stessa’s machine learning algorithm will automatically read the details from and organize each new transaction into tax-ready real estate categories, making it easier than ever to track all expenses related to an investor’s rental properties. Everything is stored in the cloud with bank-grade security, so it’s always accessible and available during tax time or for audit purposes.
“As a long-time rental property investor, I was frustrated by the ongoing manual effort required to effectively track and manage my investments,” said Heath Silverman, co-founder and CEO of Stessa. “We built Stessa to give the millions of investors like myself better visibility into property performance and reporting while reducing the amount of time spent on unnecessary paperwork that can be automated with technology.”
“I knew I needed a better system,” says Patrick Barker, a Florida-based real estate investor with a growing portfolio. “I was manually updating four spreadsheets trying to keep track of my seven properties. It was overwhelming and hard to know if I was making money on any one of my rentals. Stessa allowed me to combine everything into one dashboard that shows me how my properties are performing. I synced all my accounts so that income and expenses are tracked automatically, and I can see the rent roll for each property. That has freed up time and energy that I can spend looking for new deals and growing my portfolio.”
To learn more, visit https://www.stessa.com/. You can download the app on the Apple iOS store here: https://itunes.apple.com/us/app/stessa-track-rental-expenses/id1374556096?mt=8.
Stessa is a software-as-a-service (SaaS)-based real estate technology platform that allows rental property investors to easily track, manage and communicate the performance of their real estate assets. Stessa provides real-time, actionable data by consolidating a property owner’s important metrics and key accounts in one place. Stessa enables investors to quickly see all of their relevant data at a glance, automate income and expense tracking, better understand their portfolio, and make regular, meaningful decisions to optimize returns. Stessa was founded in 2016 and acquired by the JLL Spark division of JLL in 2018. The company is headquartered in San Francisco. To learn more, visit https://www.stessa.com/.