Stessa vs. Landlord Studio, vs Quickbooks.
Most Popular Reply
Member since 2018 · 28 posts · 13 votes
2yHello. Because I am indecisive, like software, and want to at least give every platform a chance I have tried MANY software for my 2 condos (and once Airbnb). Most were not great. I am embarrassed to admit how much time I have spend on these and I only have “2 doors”
But I can say I used both Stessa and Landlord studio a lot so can actually be helpful here.
Both are good compared to all the others (e.g. Avail), but Landlord studio is frankly not as intuitive or user friendly. Keep in mind this is what I am USING currently so that tells you about my experience with the other “apps”.
Anyway, I have used it for a year and I am constantly met with quirks and roadblocks. The customer service is awesome though and when they explain why I am having issues, it usually makes sense, but these types of things just aren’t an issue with Stessa. For instance, many categories you might want to file transactions are missing. These are there in Stessa as expected. So you must add them manually in LS. And in the LS background there are all sorts of validations on what you are trying to do, so it just gets frustrating. In short its hard to override things. For instance I got a lot of my rental payment upfront, (a large cash inflow as a payment type) but I cant apply/reconcile it as category “rent” because I already marked the month’s rent as paid – just one quick example. So it sits there in purgatory. I can admit there are likely good reasons for these validations and restrictions for Property management professionals and accounting gurus, but for a small time landlord like myself they come across as annoying.
The price is right and the reports are awesome though. And the customer service is super fast and helpful, although I should also mention you are often just sent a wall of text to read. I get it, but I really wish it was more intuitive from the start. They also have a much more modern look to the software and they have a good Mobile app geared specifically for tenants. SO this could be a huge selling point for some. (None of my 2 tenants used it so cant comment on that). Another thing is a small detail like who pays the ACH fee can be a choice to go to you or tenant. I appreciate things like that and as I said I use it currently but also begrudgingly.
Anyway, Stessa is everything I want mostly (now as they have added desperately missing features the past year), but also more expensive for some reason. I think LS is a small business whereas Stessa is a large corporation (roofstock corp).
That extra cost is not so much the issue though. The reconciliation of transactions is super fast and easy. The tenant and lease set up is way easier and intuitive in Stessa. It’s true nail in the coffin is they FORCE you to open up checking accounts under some bank I never heard called “thread” in order to collect rent. NO THANKS. So they advertise later they will have quick rent payments but I don’t bank with “Thread.” I bank with Chase. So this would require me to manually log in to transfer money to my actual bank anyway for distributions or to receive funds for improvements or whatever. And I can’t link a debit card from that bank. If you can there is no mention. And worse, this bank does not even accept Zelle. I mean what respectable bank does not accept zelle payments? Finally, the Stessa Cash Management Accounts FAQ page is suspiciously lacking in mention around fees. So as a previously burned person in bait and switches am simply assuming that when you don’t talk about fees and you list all these “things” you can do, you are hiding fees later. Sorry, call me cynical there.
Like I said, I am trying to simplify my life, so opening up yet more bank accounts when I already have a trusted rental business account with chase for a small timer like me is not territory I want wade in. If Stessa let me link and use my own bank I would very likely choose them over LS even given the extra cost to get over the frustrations I have with LS.
Oh one more thing and this is subjective.... Where I live, the word "Landlord" is a dirty word. Sad but true. I do not even think I am being sensitive around this. So telling my tenant to pay, get emails from, and use an app called "LANDLORD studio" does make me feel uncomfortable to some degree as it makes it sound more like a 1 sided transaction. "I am your landlord, pay me."
Stessa does have a much friendlier sound to it, almost cute.
Anyway, that is my take. Hope it helps.
25 Replies
- Investor · Vermont and New York · Member since 2023 · 308 posts · 309 votes2yQuickbooks (for me) is not a useful tool for managing rental properties. It's meant for specific things - and property management is not one of them.
I have used Stessa and can recommend it. It is missing one aspect of property management - maintenance requests/tracking.
I'd say Stessa is great for managing one to 20 units.
Any more than 10 units and you probably want to look at something like Buildium. - New to Real Estate · Austin · Member since 2023 · 8 posts · 0 votes2y
Stessa is not for Property Management but general portfolio management right? And yes, you can do accounting stuff. But not sure, how Buildium is an alternative.
- Member since 2023 · 15 posts · 7 votes2yQuickbooks, Stessa, and Digb.com are the ones I looked at. I like Digb and Stessa because they're more focused on helping real estate investors. Quickbooks is for small businesses that have different needs.
Quote from @Lee L.:
Does anyone have any experience with Landlord Studio and or Stessa? Pros/cons over quickbooks?
- Rochester, MI · Member since 2014 · 88 posts · 50 votes2y
I use Landlord Studio and like it. It's the only software I have tried so I don't know how it compares.
What I can say is it's easy to navigate and they keep making improvements at the request of their user's suggestions. I own and manage 11 units and still do my own taxes. It has really made it easy.
- 2yJake BakerBusiness MemberFlipper/Rehabber · San Diego, CA · Member since 2020 · 1k+ posts · 695 votes
For landloarding, I can recommend Stessa for a small portfolio. It is free with a BP Pro subscription.
QuickBooks has more advanced features and is more of a bookkeeping/accounting tool.
If you find yourself too bogged down from too many rentals, you can hire a bookkeeper for a couple hundred dollars per month to manage all of this for you.
BookkeepingRE - Bookkeeping for Real Estate & Service-Based Businesses58 Reviews - 2yGita FaustBusiness MemberAccountant · Richboro - Philadelphia, PA · Member since 2008 · 901 posts · 246 votes
QuickBooks Online has four different levels:
QuickBooks Online offers four plans—Simple Start, Essentials, Plus, and Advanced. These plans vary in the number of users and features included and are built for different purposes. Learn which version is right for you in this detailed QuickBooks Online plans comparison guide:
- QuickBooks Online Simple Start: Have employees and issue invoices regularly
- QuickBooks Online Essentials: Assign hours worked to customers, track bills due, and provide access for up to three users
- QuickBooks Online Plus: Best for retailers, wholesalers, contractors, and other small businesses requiring property cost, inventory tracking, budgeting, and access for up to five users
- QuickBooks Online Advanced: Best for small and midsize businesses (SMBs) seeking fixed asset accounting, advanced reporting, custom user permissions, a dedicated support manager, and access for up to 25 users You can use it as a property management software to track lease dates, record maintenance request and moreNothing is confusing to use if you learn it. Just watching YouTube videos gives you only part of the solution.
- 2ySean O'KeefePro MemberCPA | Accepting new clients | 50 States · Member since 2022 · 1k+ posts · 870 votes
Quote from @Lee L.:
Does anyone have any experience with Landlord Studio and or Stessa? Pros/cons over quickbooks?
Buildium
- Member since 2018 · 28 posts · 13 votes2y
Hello. Because I am indecisive, like software, and want to at least give every platform a chance I have tried MANY software for my 2 condos (and once Airbnb). Most were not great. I am embarrassed to admit how much time I have spend on these and I only have “2 doors”
But I can say I used both Stessa and Landlord studio a lot so can actually be helpful here.
Both are good compared to all the others (e.g. Avail), but Landlord studio is frankly not as intuitive or user friendly. Keep in mind this is what I am USING currently so that tells you about my experience with the other “apps”.
Anyway, I have used it for a year and I am constantly met with quirks and roadblocks. The customer service is awesome though and when they explain why I am having issues, it usually makes sense, but these types of things just aren’t an issue with Stessa. For instance, many categories you might want to file transactions are missing. These are there in Stessa as expected. So you must add them manually in LS. And in the LS background there are all sorts of validations on what you are trying to do, so it just gets frustrating. In short its hard to override things. For instance I got a lot of my rental payment upfront, (a large cash inflow as a payment type) but I cant apply/reconcile it as category “rent” because I already marked the month’s rent as paid – just one quick example. So it sits there in purgatory. I can admit there are likely good reasons for these validations and restrictions for Property management professionals and accounting gurus, but for a small time landlord like myself they come across as annoying.
The price is right and the reports are awesome though. And the customer service is super fast and helpful, although I should also mention you are often just sent a wall of text to read. I get it, but I really wish it was more intuitive from the start. They also have a much more modern look to the software and they have a good Mobile app geared specifically for tenants. SO this could be a huge selling point for some. (None of my 2 tenants used it so cant comment on that). Another thing is a small detail like who pays the ACH fee can be a choice to go to you or tenant. I appreciate things like that and as I said I use it currently but also begrudgingly.
Anyway, Stessa is everything I want mostly (now as they have added desperately missing features the past year), but also more expensive for some reason. I think LS is a small business whereas Stessa is a large corporation (roofstock corp).
That extra cost is not so much the issue though. The reconciliation of transactions is super fast and easy. The tenant and lease set up is way easier and intuitive in Stessa. It’s true nail in the coffin is they FORCE you to open up checking accounts under some bank I never heard called “thread” in order to collect rent. NO THANKS. So they advertise later they will have quick rent payments but I don’t bank with “Thread.” I bank with Chase. So this would require me to manually log in to transfer money to my actual bank anyway for distributions or to receive funds for improvements or whatever. And I can’t link a debit card from that bank. If you can there is no mention. And worse, this bank does not even accept Zelle. I mean what respectable bank does not accept zelle payments? Finally, the Stessa Cash Management Accounts FAQ page is suspiciously lacking in mention around fees. So as a previously burned person in bait and switches am simply assuming that when you don’t talk about fees and you list all these “things” you can do, you are hiding fees later. Sorry, call me cynical there.
Like I said, I am trying to simplify my life, so opening up yet more bank accounts when I already have a trusted rental business account with chase for a small timer like me is not territory I want wade in. If Stessa let me link and use my own bank I would very likely choose them over LS even given the extra cost to get over the frustrations I have with LS.
Oh one more thing and this is subjective.... Where I live, the word "Landlord" is a dirty word. Sad but true. I do not even think I am being sensitive around this. So telling my tenant to pay, get emails from, and use an app called "LANDLORD studio" does make me feel uncomfortable to some degree as it makes it sound more like a 1 sided transaction. "I am your landlord, pay me."
Stessa does have a much friendlier sound to it, almost cute.
Anyway, that is my take. Hope it helps.
- Member since 2018 · 28 posts · 13 votes2y
Oh, I also forgot to mention another fantastic and key feature of Landlord studio is the ability to set up bank rules which is awesome. These will auto-categorize transactions for you and saves a lot of time. Stessa does not have this so you must manually reconcile each one. You can see how its hard to decide on these 2 apps.
And after moving from excel, I also used rentredi, quickbook, avail, zillow rental manager, and a few others i cant remember. But in the end for me its a toss up between these two.
- 2ySean O'KeefePro MemberCPA | Accepting new clients | 50 States · Member since 2022 · 1k+ posts · 870 votes
Buildium
- Specialist · Denver, CO · Member since 2019 · 27 posts · 9 votes2y
Hey Matthew, fantastic and in-depth constructive feedback about our product. I've shared it with our product team. Also interesting feedback about the name "Landlord Studio" – quite a difficuilt one for us to solve!
Logan Ransley
Co-Founder of Landlord Studio - Accountant · NC · Member since 2023 · 123 posts · 163 votes2y
Thanks for the break down, it is really helpful. Can I ask what you are using the systems for? For example, are you using the lease agreement features, or using it to collect and schedule payments or just to track your portfolio?
- Member since 2018 · 28 posts · 13 votes2y
Quote from @Kelly O'Keefe:
Thanks for the break down, it is really helpful. Can I ask what you are using the systems for? For example, are you using the lease agreement features, or using it to collect and schedule payments or just to track your portfolio?
I use it for all my property accounting/ reporting, and to collect rent and owed payments. It syncs with my bank and CC of course. For instance I had a special case where I billed the tenant an extra expense monthly on top of the automated rent collection, so I add it as an expense and it would automatically email them and notify me when it was late of course.
I did not use the lease feature, listing features, or background check yet as those were already in place when I signed up but for sure I wanted an all-in-one package for when I do need them in the future. I also automatically reminds you when lease is set to expire. - Member since 2018 · 28 posts · 13 votes2y
Quote from @Logan Ransley:
Hey Matthew, fantastic and in-depth constructive feedback about our product. I've shared it with our product team. Also interesting feedback about the name "Landlord Studio" – quite a difficuilt one for us to solve!
Logan Ransley
Co-Founder of Landlord StudioYeah no worries Logan lol, I had no idea you guys read this stuff! In hindsight I wish I would have put things into more of a pro and con list as it would be easier for readers, but understand it was just kind of brain dump as I was just doing my tax records so it was fresh on my mind.
I currently use your software and plan to continue to do so in 2024, this time with a plan on doing more monthly reconciliation to avoid some of the "end of year" issues I had and mentioned. I tried to point out the fact that my issues are just that - MY issues, and to a bookkeeper or pro - which I am far from - things probably make more sense. But for sure, reach out for more specifics if you wish.
I also suspect (as a software guy myself) you may be using a SAAS application you license and so are held up on configuration in your own frustrating ways from that perspective. I could be wrong there, but regardless I know developer pain when hands are tied.
Anyway keep up the good work, like I siad you won out over many hours of "research" on what to proceed with, so I am looking forward to any improvements and as I've already mentioned, your CSR team is actually amazing considering this day and age so take them out for lunch. :-)
- 2yKevin PolitePro MemberInvestor · Decatur Atlanta, GA · Member since 2011 · 610 posts · 232 votes
I do real estate agency and occasionally flip plus self-manage and Quickbooks and apartments.com work best for me. I like Stessa but it wasn't able to do the other accounting that I needed.
- 2yBasit SiddiqiBusiness MemberAccountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
Stessa is great if you are an individual and you are just trying to track the income and expenses on your rentals.
Unfortunately, for Stessa, they do not have the ability to generate a balance sheet which makes it a no-go for any business.
Basit Siddiqi CPA4.979 Reviews - Investor · Vermont and New York · Member since 2023 · 308 posts · 309 votes2yOne poster made some comments regarding Stessa's cash management accounts. The poster seemingly disparaged Stessa and the cash accounts.
I use Stess and Buildium actively. I manage 33 units on Stessa - across 4 portfolios. I have 4 separate TD Bank accounts set up for those partnerships. Stessa imports the transactions from those accounts.
We have set up auto/ACH rent payments in Stessa - which requires you to create an account with their bank partner. I have had no issues with the banking. Yes, they do not participate in Zelle, but that is not a problem. We can transfer to our other accounts easily.
I believe Bill Pay is in the works but not positive about that.
Stessa is a great tool for someone who does not want to use paper or excel and has fewer than 50 units. That 50 number is arbitrary
Stepping up to Buildium may be something you want to do after 10 units, or wait until you have 100.
The reason I have buildium is due to the lack of maintenance issue tracking and tenant communication in Stessa - 2yJustin HolleyPro MemberInvestor · Whitefish, MT · Member since 2015 · 62 posts · 18 votes
I have had a lot of issues with Stessa support. Their communication is slow at best and you have to ask to speak with a person and hope they provide the Calendly link to schedule a time.
No Bill Pay for the Cash Management accounts... Basically you have to funnel money around to use these accounts for anything other than simply savings.
They promoted their move from Blue Ridge Bank to Thread as one that would allow for Bill Pay, but it hasn't happened.
I am considering moving to RentRedi.
- Rental Property Investor · Youngstown, OH · Member since 2023 · 128 posts · 124 votes2y
Quote from @Matthew W.:
Hello. Because I am indecisive, like software, and want to at least give every platform a chance I have tried MANY software for my 2 condos (and once Airbnb). Most were not great. I am embarrassed to admit how much time I have spend on these and I only have “2 doors”
But I can say I used both Stessa and Landlord studio a lot so can actually be helpful here.
Both are good compared to all the others (e.g. Avail), but Landlord studio is frankly not as intuitive or user friendly. Keep in mind this is what I am USING currently so that tells you about my experience with the other “apps”.
Anyway, I have used it for a year and I am constantly met with quirks and roadblocks. The customer service is awesome though and when they explain why I am having issues, it usually makes sense, but these types of things just aren’t an issue with Stessa. For instance, many categories you might want to file transactions are missing. These are there in Stessa as expected. So you must add them manually in LS. And in the LS background there are all sorts of validations on what you are trying to do, so it just gets frustrating. In short its hard to override things. For instance I got a lot of my rental payment upfront, (a large cash inflow as a payment type) but I cant apply/reconcile it as category “rent” because I already marked the month’s rent as paid – just one quick example. So it sits there in purgatory. I can admit there are likely good reasons for these validations and restrictions for Property management professionals and accounting gurus, but for a small time landlord like myself they come across as annoying.
The price is right and the reports are awesome though. And the customer service is super fast and helpful, although I should also mention you are often just sent a wall of text to read. I get it, but I really wish it was more intuitive from the start. They also have a much more modern look to the software and they have a good Mobile app geared specifically for tenants. SO this could be a huge selling point for some. (None of my 2 tenants used it so cant comment on that). Another thing is a small detail like who pays the ACH fee can be a choice to go to you or tenant. I appreciate things like that and as I said I use it currently but also begrudgingly.
Anyway, Stessa is everything I want mostly (now as they have added desperately missing features the past year), but also more expensive for some reason. I think LS is a small business whereas Stessa is a large corporation (roofstock corp).
That extra cost is not so much the issue though. The reconciliation of transactions is super fast and easy. The tenant and lease set up is way easier and intuitive in Stessa. It’s true nail in the coffin is they FORCE you to open up checking accounts under some bank I never heard called “thread” in order to collect rent. NO THANKS. So they advertise later they will have quick rent payments but I don’t bank with “Thread.” I bank with Chase. So this would require me to manually log in to transfer money to my actual bank anyway for distributions or to receive funds for improvements or whatever. And I can’t link a debit card from that bank. If you can there is no mention. And worse, this bank does not even accept Zelle. I mean what respectable bank does not accept zelle payments? Finally, the Stessa Cash Management Accounts FAQ page is suspiciously lacking in mention around fees. So as a previously burned person in bait and switches am simply assuming that when you don’t talk about fees and you list all these “things” you can do, you are hiding fees later. Sorry, call me cynical there.
Like I said, I am trying to simplify my life, so opening up yet more bank accounts when I already have a trusted rental business account with chase for a small timer like me is not territory I want wade in. If Stessa let me link and use my own bank I would very likely choose them over LS even given the extra cost to get over the frustrations I have with LS.
Oh one more thing and this is subjective.... Where I live, the word "Landlord" is a dirty word. Sad but true. I do not even think I am being sensitive around this. So telling my tenant to pay, get emails from, and use an app called "LANDLORD studio" does make me feel uncomfortable to some degree as it makes it sound more like a 1 sided transaction. "I am your landlord, pay me."
Stessa does have a much friendlier sound to it, almost cute.
Anyway, that is my take. Hope it helps.
This is like a near exactly copy-paste experience of what I've been going through as of late. I've used Stessa since 2018 and truly enjoy how simple and intuitive it is to use. But it's missing a couple of integral features, such as maintenance requests/tracking, and also my bank (which I do not want to leave) for some reason has always hated connecting to Stessa and thus never works properly... In order to avoid pulling out my hair, I have to manually connect each time I want to reconcile transactions, usually about once a month for my own sanity. Trying to bring this issue up with support is near impossible, and, well, their support is just lackluster all around. So, I've been on the hunt for a new management software for someone with less than 10 doors.
I've tried several different alternatives: Azibo, Innago, TenantCloud, Baselane, Hemlane, etc. and none of them come close to Stessa imo. The closest so far has been Landlord Studio, which I desperately want to love (especially because it hasn't had any problems connecting to my bank account and the support team is GREAT), but my primary qualms with the software is (1) it is not as intuitive to use as Stessa, (2) I don't like the fact there's not a single place where I can view all individual transactions like I can in Stessa (instead I have to click through different reports and whatnot), and (3) the name! "Landlord Studio." Like you already mentioned, the term "Landlord" has a bit of a bad connotation to it. While I LOVE the tenant app feature, there's absolutely no way I'm going to have tenants use an app or receive emails that says "Landlord" all over it. Just really makes things a bit uncomfortable.
DoorLoop seems like a great software I'm very curious to give a go someday, but for someone with 10 doors, that's a very future me issue. Besides, all the features I want are in the higher subscription categories (calendar feature, bank reconciliation, free ACH transfers) that cost $119 and $169 per month for 20 doors or less, so... meanwhile Landlord Studio has the calendar feature and bank recon baked into their sub price of $12/mo +$1 per unit.
With that said, I'll probably stick with Stessa for now (free version), and continue to just let my tenants text/email me when issues arise and whatnot, and try not to yoink my hair out over my bank hating Stessa for some reason. I do truly want to stick with Landlord Studio as it has some great features but the name alone is just too harsh for me.PS... "Thread" bank is a real bank that I've had the opportunity to work with before. I agree though, I am not a fan of being forced to open bank accounts to use features, and so I certainly have no interest in Stessa's cash management nonsense.
- Investor · Vermont and New York · Member since 2023 · 308 posts · 309 votes2y
Quote from @Justin Holley:
I have had a lot of issues with Stessa support. Their communication is slow at best and you have to ask to speak with a person and hope they provide the Calendly link to schedule a time.
No Bill Pay for the Cash Management accounts... Basically you have to funnel money around to use these accounts for anything other than simply savings.
They promoted their move from Blue Ridge Bank to Thread as one that would allow for Bill Pay, but it hasn't happened.
I am considering moving to RentRedi.
I tried RentRedi - it definitely was NOT Ready!
I can't recall all the reasons I rejected it but one HUGE primary flaw that is so fundamental it made me question everything else about their software - there is no concept of a portfolio.
E.G. I am a member of 3 different partnerships (and manage all of those properties). I also manage properties that are exclusively mine. Some of the entities own multiple properties and some of the properties are multi-unit. There is no way to set that up in their system under one account.
Given that brain-dead view of the world that is a hard "No" from me.
It may be fine for investors who manage only their own properties, but definitely not "Ready" for prime time IMO - Investor · Brooklyn, NY · Member since 2024 · 66 posts · 38 votes1y
I've been using Stessa for a few weeks, particularly for its bookkeeping features, which are well-suited for real estate investors. The dashboard does a solid job of giving a clear financial overview, and even when things get rocky, the customer support team has been proactive.
However, Stessa has its challenges. Specifically, I've encountered frustrating connectivity issues, like frequent disconnections and slow updates, especially from my primary bank accounts. Despite several attempts to fix these—like reconnecting and getting help from support—the issues have persisted, making it challenging to rely on the data integration via Yodlee, especially when other platforms like Plaid seem to handle this stuff more smoothly. Comparing Stessa with other financial tools like Mint and Monarch Money, which also use third-party aggregators without glitches, Stessa's problems are more noticeable. Considering what I pay for Stessa, I expect top-notch performance and reliability.
Despite these challenges, I'm optimistic about Stessa's potential. They're capable of ironing out these issues and finding better solutions for data aggregation to help avoid such disruptions in the future. While Stessa offers some great bookkeeping tools, they need to tackle these technical issues to live up to the high standards we, as users, expect. I'm looking forward to seeing how they evolve because, with the proper updates, Stessa could become the go-to platform for real estate investors looking for hassle-free management tools. - Accountant · 100% Remote · Member since 2019 · 495 posts · 216 votes1y
Hey @Lee L., we use QuickBooks Online exclusively for all of our REI Clients (just bookkeeping; not property management). I use it for my personal portfolio as well. We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.
The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.
Something else to keep in mind is your entity structure and how your entities file tax returns. As a general rule, each entity that files a separate tax return (partnership, s-corp, c-corp, etc) will need its own QBO subscription. If entities are disregarded, you can keep up with more than 1 in a single QBO account using the location/business feature to keep track of them separately. This will save you on subscription costs.
If you want to discuss any of this further, I'm happy to answer questions and help walk you through it.
Best of luck!
- Developer · Bethel, ME · Member since 2019 · 13 posts · 3 votes5mo
I looked at both and they’re generally easier to start with than QuickBooks.
QuickBooks is more powerful, but it also comes with more setup, more accounting knowledge, and more stuff most hosts don’t really need.
Stessa is better for basic property tracking, and Landlord Studio is a bit more operations friendly, but neither felt fully built around STR workflows to me.
That’s actually the gap I kept running into and why I built something for my own rentals.
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