As landlords and tenants alike continue to be impacted by economic fallout related to the pandemic, rental property owners are suddenly paying extra close attention to their financials. Stessa users are wondering things like…
“Can I still cover my mortgage if a particular tenant can’t pay rent next month?”
“Where can I cut operating expenses to better position myself for hard times?”
“How are my cash reserves holding up as rent collections continue to struggle?”
To support real estate investors’ ongoing appetite for quick answers and more flexible reporting, we’ve launching an enhanced Reports feature this week. Just click “Reports” in the left navigation menu to see what’s new!
With full support for in-browser viewing and the option to download a PDF or Excel version of any report, you’re now armed with the data you need to prepare for downside scenarios and make better decisions across your entire portfolio.
There’s a Report for That Too!
With a full suite of financial reports including an Income Statement, Net Cash Flow Report, Balance Sheet, Schedule of Capital Expenses, Stress Test, and Tax Package, Stessa now provides a single source of truth to track the performance of your portfolio.
To take full advantage of Stessa’s real-time financial reporting for rental properties, make sure all of your relevant bank, mortgage, and property management accounts are properly linked. After all, your reports are only as good as the data behind the numbers. The Net Cash Flow Report and Balance Sheet in particular rely on key pieces of data that are often locked away in separate accounts. Bringing everything together so you can see everything in one place is what Stessa does best!
Across all the reports that are now available, you’ll find that the interface is now faster and more flexible. Multiple filters allow you to quickly switch the property/portfolio and date range, see monthly vs consolidated figures, and toggle between high level summaries and detailed reports including sub-categories. All reports now refresh on-screen with just a single click and you have the additional option to download any report in PDF for easy sharing and Excel for further offline tweaking.
Using Reports to Cross-Check Your Data
Since we’ve prioritized speed with this latest update to the Reports feature, it’s now easier than ever to use the detailed Income Statement view to verify that all your transactions are in order.
Looking through the full ledger of income and expenses to find outliers and mis-categorized line items can be tedious and exhausting. Use the new Reports engine instead! It’s easy to see what’s missing or out of place when everything is nicely organized and sub-totaled in neat rows and columns.
Use the “By Month” option to see how your electric or gas expenses fluctuate over the course of the year. Or keep an eye on monthly water bills to catch leaks or other problems before they get too far out of hand.
Sharing Reports with Partners & Lenders
While many rental property investors continue to share their Stessa account with spouses and partners directly, others prefer to simply send performance updates via email on a regular basis. With the new Reports feature, you can now double-check your financial data on screen and then generate PDF versions in mere seconds. Send these PDFs to your accountant, spouse, partners, or even lenders as needed.
When you make the effort to log in to Stessa monthly, maintain your data connections, and assign transactions at the property and unit level, the payoff is immediate. With just a few clicks, you can now generate reliable financial reports to see your performance in real time, uncover hidden opportunities to improve cash flow, and make better hold/sell decisions.