Stessa vs Rentastic: Best Value For Landlords 2023

Rentastic and Stessa are two powerful real estate accounting software programs that landlords can use to manage their rental properties. With features such as automated income and expense tracking, improved cash flow management, and accurate financial statement generation, these platforms are essential tools for investors who want to keep track of their property’s financial performance.

In this article, we’ll compare the features and pricing of Stessa and Rentastic to help you make an informed decision on which one best suits your needs.

Overview of Stessa and Rentastic

Rentastic and Stessa are two popular rental property accounting software systems that offer several similar features. Both platforms were designed by real estate investors, and offer easy property information entry, automated income and expense tracking, and bank account linking. They also both have online access and mobile apps for Android and iOS devices.

While Stessa offers a free version that allows unlimited tracking of properties and portfolios, along with features like tax-ready financials and secure document storage, Rentastic’s Premium plan offers unlimited property and bank account tracking, receipt scanning, profit and loss tax reports, and split transactions. The platform also includes Rent Estimates and a Deal Analyzer tool.

Stessa

Stessa is a cloud-based platform that helps landlords manage their rental properties with ease. The platform was launched in 2016 and has since grown to become among the top choices for real estate investors.

Features

Stessa is a free online platform that provides tools to help real estate investors track the performance of their rental properties. Created by real estate investors, the platform can be accessed through its website or Android and iOS apps.

Stessa allows investors to:

• Create unlimited portfolios and properties
• Offering flexibility and customization based on location, ownership structure, or rental property type
• The real estate balance sheet provides periodic updates on estimated property values

Other features of Stessa include:

• tenant tracking
• financial reporting
• document storage

The platform automatically books income and expenses, creates a paper trail for real estate investing, and provides reports such as income statements, cash flow, and capital expenses. At year-end, transactions are aggregated into a single ZIP file for easy tax preparation.

Stessa also offers a stress test feature that enables investors to run rent collection scenarios at the property and portfolio levels. This feature helps investors better understand how reduced rent collections affect cash flow and explore different rent collection scenarios.

Currently, Stessa does not offer a portal or dashboard for tenants, cannot be used to accept rent payments online, and lacks an option for tenant maintenance requests online.

Pricing

Stessa offers a free plan that includes up to 2 properties and basic features like automated bookkeeping and rent track.

For landlords with more than 2 properties or who want access to more advanced features, there’s a paid plan that costs $9 per month per unit. This plan includes everything in the free plan, plus advanced features like tax optimization and portfolio analytics.

Rentastic

Rentastic is another popular platform that helps landlords manage their rental properties. The platform, now owned by SetSchedule, was launched in 2020 and has quickly gained a following thanks to its user-friendly interface and affordable pricing.

Features

Rentastic’s user interface offers:

• automatic income and expense transaction tracking
• receipt scanning
• profit and loss (P&L) statement during tax season

The software can be accessed through an online owner dashboard or an Android or iOS mobile app to track properties on a property and portfolio level.

The paid version of Rentastic, Rentastic Premium, offers two additional features:

• Rent Estimator
• Deal Analyzer

Rent Estimator provides an estimated rental range based on comparable rental properties in the area. Deal Analyzer is also included in the Premium plan.

Rentastic offers several advantages, such as a free version, the ability to link bank accounts for automatic income and expense tracking, and notifications when transactions require classification. Additionally, Rentastic offers a dashboard that provides a quick view of property performance.

When it comes to the user interface, Rentastic stands out as the superior choice. Rentastic’s intuitive and user-friendly interface makes it easy to navigate both on desktop and mobile devices. Rentastic’s mobile app, in particular, offers a streamlined and efficient way to manage your rental properties on the go, with features such as push notifications for rent payments and maintenance requests.

As of the moment, it has no option for storing and organizing real estate documents online, no tenant dashboard, and it cannot accept rent payments or process maintenance requests.

Pricing

The Basic Plan starts at $9.99 per month and is perfect for small property management businesses. It includes essential features such as rent tracking, property management tools, and basic reporting to help manage your properties efficiently.

Rentastic offers a Premium Plan for larger property management businesses. The monthly cost for the Premium Plan is $24.99, or $199 if you choose to pay annually, which averages to $16.53 per month.

The Premium Plan includes all the features of the Basic plan, as well as additional benefits such as maintenance tracking, advanced reporting, and integration with popular property management platforms.

Stessa vs. Rentastic: Which is the best choice for landlords?

When it comes to pricing, both platforms offer affordable options for landlords. Stessa’s paid plan is slightly more expensive than Rentastic’s, but it includes more advanced features like tax optimization and portfolio

However, if you’re on a tight budget and don’t need those advanced features, Rentastic’s free plan is a great value.

It’s also worth noting that both Stessa and Rentastic offer free plans, which can be a good way to try out the platform and see if it’s a good fit for your needs.

Overall, both Stessa and Rentastic are great options for landlords looking for a cloud-based platform to help them manage their rental properties. The best choice for you will depend on your specific needs and priorities.

If you’re more concerned with the mobility and usability of the app and can help you screen and manage properties more effectively, Rentastic is the better choice.

Regardless of which platform you choose, both Stessa and Rentastic offer affordable pricing and a range of features that can help you streamline your property management and make your life as a landlord a little bit easier.