Stessa and RentSpree are two rental property management platforms that strive to take the stress out of overseeing your real estate investments. Each platform offers a potential solution to the myriad tasks and responsibilities landlords face daily. 

In this side-by-side review, we’ll analyze both Stessa and RentSpree, exploring their features, benefits, and pricing. You’ll gain insight into how these platforms stack up against each other and how they can help make your role as a landlord easier and more efficient.

Let’s begin by taking a look at this overview, which summarizes the key features and pros and cons of both platforms:

Stessa and RentSpree at a glance

Stessa and RentSpree are two well-respected names in property management software. While they share a common goal of simplifying landlords’ workloads, their approach to achieving this goal varies.

Designed to maximize returns for landlords, Stessa offers many features that can automate and streamline your property management operations. From real-time dashboards updating you on your property’s performance to integrated tenant screening, eSigning capabilities, and landlord banking, Stessa is like a smart digital assistant trained in the nuances of real estate investing that can handle many daily tasks so you can focus on the bigger picture.

RentSpree, on the other hand, offers a suite of services like tenant screening and rental applications yet lacks some of the more advanced features found in Stessa. For instance, it doesn’t provide financial reporting, built-in tax support, or landlord banking options.

Stessa overview

Stessa, one of the first to launch a mobile app for rental property management, offers a comprehensive array of features that help landlords like you break free from tedious manual tasks and optimize your operations. Over 200,000 landlords currently use Stessa and report saving up to an average of $4,000 and over 100 hours of valuable time annually.

With Stessa, landlords can track income and expenses, draft leases, screen tenants, and collect rent online, all from one platform. Real-time dashboards and reports for performance tracking help eliminate guesswork and give landlords a clear picture of their portfolio performance.

Stessa also takes automation to the next level by offering smart accounting and bookkeeping features, replacing cumbersome spreadsheets. Come tax time, users can access built-in Schedule E and Tax Package reports, easing the often stressful process. 

Tenant background checks are thorough with integrated RentPrep screening, and you can conduct them directly through the platform. Landlords can also draft leases confidently with access to more than 60 legal templates, along with eSigning capabilities through a nifty DocuSign integration.

Stessa also supports automated rent collection with payment reminders and late fees, alongside landlord banking with high-yield bank accounts for each property. 

Pricing structure

Stessa’s tiered pricing structure offers a variety of features for different budgets and needs:

You can always start with the Essentials plan and upgrade to a paid plan as your portfolio expands and your needs evolve.

Key features

Stessa is packed full of features that help you accomplish more in less time: 

• Automated accounting tools: Replace cumbersome spreadsheets and easily track income and expenses. Stessa automates the process of categorizing transactions, reducing time spent on manual data entry.

• Centralized dashboard with key metrics and complete chart history: Access a clear real-time overview of your property performance. The dashboard displays critical metrics and historical data in an intuitive, easy-to-understand format.

• Rental applications: Manage tenant applications efficiently and effectively by streamlining the process of publishing vacancies, and collecting and reviewing applications.

• Tenant screening: Use a proprietary approach with RentPrep for comprehensive tenant checks, including a full credit report, background check, and more. For additional screening, landlords can add income verification or judgment and liens, increasing the odds of selecting reliable tenants.

• Online rent collection: Automate your rent collection process, including payment reminders and late fees, reducing the likelihood of missed or late payments.

• Landlord banking: Open FDIC-insured bank accounts and enjoy a more efficient way to manage your property-related finances.

• Automated bank feeds: Connect unlimited bank accounts for real-time income and expense tracking so you can manage your cash flow effectively and stay on top of your financial situation.

• One-click smart receipt scanning: Quickly and accurately add expense receipts to your property records, reducing the risk of losing or misplacing vital receipts.

• Mobile app (iOS and Android): Utilize Stessa’s mobile app to help you manage your properties on the go. You can categorize transactions, check key metrics, scan receipts, and view your portfolio from almost anywhere, anytime. 

• Manual expense tracking: Enjoy precise record-keeping of all property-related expenses, from maintenance costs to insurance fees, for a comprehensive view of property expenditures.

• Rent estimates: Get estimated rental prices based on market trends and property details. These estimates can help you price your properties accurately, thereby maximizing your potential income.

• Budgeting and pro-forma analysis: Available on the Pro plan, these features allow for strategic financial planning and forecasting. You can set budgets for different categories and monitor performance against these budgets over time.

• Mileage tracking: Track all travel related to your property management efforts for accurate expense reporting. This feature is particularly beneficial for tax purposes, as you can sometimes deduct these costs from taxable income.

• eSigning (in partnership with DocuSign): Simplify lease signing and other document execution with integrated eSignature capabilities. This feature makes it easier for landlords and tenants to sign important documents, reducing the need for in-person meetings.

• Data security: Enhance the safety and security of your data with Stessa’s robust data protection measures like industry-standard encryption and multi-factor authentication. 

• Tax resources: Navigate the often complex world of property-related taxes and prepare for tax season with an extensive suite of tax resources and educational material created with The Real Estate CPA.

• Asset management: Track an unlimited number of properties, which makes Stessa ideal for investors with multiple investments. Stessa provides a centralized location for all property-related information, helping you make sound financial decisions across your entire portfolio.

• Unlimited property manager connections: Automatically import transactions data from some property managers to build a comprehensive picture of income and expenses at the portfolio level.

• Unlimited real estate document and receipt storage: Ensure important property-related documents and receipts are always accessible in digital form, which acts as a hedge against loss or damage to physical copies.

• Advanced ownership reporting: Share comprehensive reports with business partners or generate them for your own records. This feature provides detailed insights into property performance, aiding strategic decision-making.

• Legal templates: Gain access to over 60 ready-to-use legal templates with Stessa’s Pro plan. These forms cover a range of scenarios, saving you time and helping to reduce the risk of legal issues.

Pros

Stessa offers countless benefits, which make it a standout choice for landlords and real estate investors. As discussed, one of Stessa’s most significant advantages is its robust financial reporting capabilities. 

• Unlike RentSpree, Stessa can generate detailed reports (some of which require a Pro subscription), including an income statement, net cash flow report, schedule of real estate owned, tenant ledger, balance sheet, and Schedule E. These reports provide a crystal-clear snapshot of property performance, helping to equip you with the data you need to make informed investment decisions.
• Another noteworthy benefit is Stessa’s automation of accounting and bookkeeping tasks. Automated data connections and single-entry accounting can make tracking income and expenses easier than ever. This automation eliminates the need for time-consuming manual tasks, freeing up valuable time for landlords to focus on other vital aspects of their business.
• Include the convenience of Stessa’s mobile app, and you have a tool that truly caters to the modern landlord. With the app, you can manage your properties from virtually anywhere to categorize transactions, check key metrics, scan receipts, and access portfolios in just a few clicks. 

Overall, the accessibility and flexibility of Stessa sets it apart from many other property management platforms, making it an excellent choice for landlords seeking to streamline operations, maximize returns, and save time and effort.

Cons

While Stessa boasts a wide range of features that simplify property management, it’s missing a few features that some landlords might need.

• Stessa doesn’t offer a maintenance request system, which would otherwise allow tenants to submit maintenance requests through the platform, help landlords track and manage these tasks more efficiently, and provide a record of all maintenance issues and resolutions.
• Another feature Stessa doesn’t offer is a tenant/vendor management tool. Available on other platforms, this functionality allows landlords and property managers to keep track of interactions with current and prospective tenants, vendors, and other contacts. This feature can streamline communication, improve customer service, and help maintain organized records of all client interactions.

RentSpree overview

RentSpree is a platform that offers several services, including online tenant screening, e-signing of documents, rent estimation, renters insurance, and an efficient rental application process. 

While RentSpree has fewer features than competitors like Stessa, it still provides a suite of tools that aim to simplify the rental process. Users appreciate its friendly interface and thorough, easy-to-read tenant screening reports, and the company’s website claims over 90,000 agents, landlords, and property managers currently utilize the platform.

Pricing structure

RentSpree offers a flexible pricing structure, offered via 3 tiers:

Basic

The Basic plan is free and has a suite of tools for landlords and agents. These include free online rental applications, tenant screening, rent payment collection, a branding page, rental listing pages, and a tenant/vendor management tool.

Pro

For users seeking more advanced features, RentSpree’s PRO plan costs $19.99 per month per user after a 30-day free trial. In addition to all the Basic plan features, the PRO plan includes a customized URL for the agent’s profile page, agent reviews, income verification with secure file sharing, auto-reference checks, and the ability to send and e-sign agreements.

Enterprise

The Enterprise plan is for larger organizations or landlords requiring more extensive services. Pricing for this plan is available upon request and includes all PRO features along with unlimited users, annual and quarterly reporting, and dedicated account support.

Key features

RentSpree offers an array of features designed to streamline the rental process:

• Tenant screening: Access detailed tenant screening services at no cost. These include a TransUnion credit report, rental history report, and tenant background check.

• Rental application: Get free online rental application forms, simplifying the data collection process. Applicants can easily submit all necessary data and documents online.

• Renters insurance: Notify tenants about renters insurance requirements. This feature also makes it easy for tenants to submit proof of insurance and for landlords to verify their coverage.

• E-sign documents: Utilize the electronic signature feature for added convenience. You can send, sign, and track rental documents online, ensuring greater security and efficiency.

• Rent payment: Make use of a seamless rent payment solution. RentSpree, in partnership with Stripe, securely deposits rent into landlords’ bank accounts. It offers flexibility with ACH and credit card payment options, simplifying the rent collection process.

• Accept/deny: Easily accept or decline rental applicants. You can draft and send acceptance and adverse action letters, streamlining the notification process.

• Rent estimate: Get rent estimates through a custom report based on rental comps and market trends. 

• Branding page: Create a personalized branding page. You can showcase your expertise, publish positive reviews, and market rental listings.

• Listing pages: Build online rental property listing pages. Use these beautifully simple listing pages to market properties, screen tenants, and share the listing with your network.

• Client manager: Organize contacts and nurture relationships with the rental client manager tool. You can store client information in one place and stay on top of important milestones.

Pros

• RentSpree offers renters insurance, a feature that can protect tenants and provide landlords with another layer of security. Requiring tenants to have insurance can give everyone peace of mind, knowing their property has coverage in case of unexpected incidents.
• Another advantage is your ability to accept or deny rental applications directly through RentSpree’s platform. This feature helps you manage applications and make quick, informed decisions. 
• In addition, RentSpree enables landlords to create personalized branding and listing pages, allowing you to showcase the appeal of your properties and attract potential tenants. The customization options allow you to effectively market your properties, highlighting their unique features and setting them apart from the competition.
• Finally, RentSpree’s client manager tool is a powerful resource for landlords. It provides a centralized location to organize and manage client contacts and relationships, allowing you to stay on top of important milestones and nurture long-lasting relationships with your clients.

Cons

While RentSpree offers robust tenant screening and renters insurance services, there are areas where it may not meet the needs of landlords. 

• One significant drawback is the absence of automated accounting and bookkeeping features. That means RentSpree users must handle financial transactions and recordkeeping manually, a time-consuming task susceptible to errors.
• The platform also lacks real-time dashboards and financial reporting tools, which are crucial for landlords to track their property performance effectively. Without these tools, gaining up-to-date overviews of your property management efforts may be challenging.
• RentSpree also doesn’t offer a mobile app. In today’s world, having an app is convenient and efficient, allowing landlords to manage properties on the go. 
• Lastly, unlike Stessa, RentSpree does not provide landlord banking services. With Stessa, you can open separate bank accounts for each property and integrate them with your bookkeeping and reporting features, contributing to organized and efficient rental property management. 

Is Stessa or RentSpree the better fit?

Stessa and RentSpree bring unique benefits to the table. However, upon closer inspection, you may find Stessa’s comprehensive suite of features provides a more robust solution for your rental property management needs.

While RentSpree is a reliable platform with a user-friendly interface and a strong reputation for its tenant reports, it lacks some advanced features. The absence of financial reporting, built-in tax support, and banking options could be a deciding factor for landlords looking for a more complete solution.

Stessa’s strength lies in its holistic approach, catering to almost all aspects of property management. 

By helping you maximize returns and eliminate time-consuming tasks, Stessa goes beyond standard software solutions. You get tenant screening and rental applications, automated accounting, real-time dashboards, eSigning capabilities, online rent payments, built-in tax support, and even a high-yield bank account for each property.

To learn more about Stessa, visit the website here. 

*Stessa is not a bank. Stessa is a financial technology company. Terms and conditions, features and pricing are subject to change. This article, and the Stessa Blog in general, is intended for informational and educational purposes only, and is not investment, tax, financial planning, financial, legal, or real estate advice.