Stessa and TenantCloud are 2 companies known in the real estate business for providing cloud-based reporting, accounting, and property management software.
Real estate investors use software systems like Stessa and TenantCloud to track rent receipts and expenses, create tax-ready financials, and create a trail for backup in case of an audit.
If you’ve been thinking about automating your real estate business, keep reading to learn more about how Stessa and TenantCloud compare.
- Stessa is free, cloud-based reporting and accounting software for unlimited properties and portfolios of single-family rentals (SFRs), multifamily homes, and short-term vacation rentals.
- TenantCloud provides a full suite of property management services with 4 pricing plans, including a free limited feature plan.
- Stessa is recognized as offering the best value for real estate investors and the best reporting and accounting tool for landlords.
How Stessa and TenantCloud work
Stessa and TenantCloud provide cloud-based reporting, accounting, and property management software solutions to real estate investors and property managers. Both companies were featured in the Best Accounting Software for Landlords report from Landlord Gurus, a website that provides advice on important issues faced by landlords and property managers.
Stessa is ranked as the #1 overall reporting and accounting software by Landlord Gurus, based on key ranking criteria, including expense tracking, reporting, tax preparation, bank integration, and cost.
Software from Stessa is free and suitable for both beginning and experienced real estate investors to track an unlimited number of SFRs, multifamily units, and short-term vacation rental properties.
While Stessa focuses on providing the best accounting and reporting tools for landlords, TenantCloud offers a full suite of property management tools, including online listings, tenant screening and rent collection, and maintenance request management.
TenantCloud came in seventh place on Landlord Guru’s list, although the company did tie with Stessa for reporting functionality.
Stessa provides free reporting and financial management software for both novice and sophisticated rental property investors. There are no hidden fees, and Stessa can be used with a portfolio of SFRs, residential multifamily, and short-term vacation rentals.
The company was launched in 2016 by real estate investors who wanted to provide the investment community with the most powerful tools at the lowest possible cost. Today, Stessa is used by tens of thousands of rental property owners to track over 250,000 properties with a combined total of over $60 billion.
Stessa was acquired by Roofstock, a leading online marketplace for buying and selling SFRs. In addition to being rated #1 by Landlord Gurus, Investopedia also says Stessa offers the best value for accounting software for rental properties in 2022.
Stessa is 100% free and can be used with an unlimited number of residential rental properties and portfolios. The company also offers optional premium services for a fee, including market research and rent analysis.
- Link business bank accounts and credit and debit cards to automate income and expense tracking.
- Sync mortgage accounts for financed properties to update real estate balance sheet assets, liabilities, and owner’s equity in real time.
- Access the comprehensive online dashboard 24/7 to view financial performance at both the property and portfolio levels.
- Monitor important financial performance metrics, including occupancy, income, cash flow, asset return, and total portfolio value.
- Create financial reports, including income statements, cash flow and capital expense reports, tenant rent rolls, and real estate balance sheets.
- Export tax-ready financials to a certified public accountant (CPA) to make tax time a breeze.
- Download Android and iOS apps to scan and upload expense receipts directly to Stessa.
- Upload, organize, and store real estate documents, such as leases and inspection reports, safely and securely.
- Create different levels of account access for lenders, business partners, and buyers and sellers.
- Receive a free tax package, an exclusive TurboTax offer, and tax resources created in partnership with The Real Estate CPA in the Stessa Tax Center.
Pros and cons of Stessa
After signing up for a free account, entering a rental property address, and linking bank and mortgage accounts, rental property financial performance automatically appears on the comprehensive online dashboard.
Income and expense transactions are synced and recorded, mortgage balances are reduced each time a payment is made, property asset values are updated in real time, and accrued depreciation is automatically booked on the real estate balance sheet.
Financial reports, such as income statements, cash flow reports, and capital expenses, can be generated entirely within Stessa, so there’s no need to subscribe to a third-party service like QuickBooks.
While Stessa receives top ratings from Landlord Gurus and Investopedia, the software is designed for accounting and reporting rather than property management.
Features such as tenant screening, rent collection, and online maintenance requests currently aren’t supported with Stessa. However, these services are easy to find online for free or at a very low cost from companies such as Cozy or PayYourRent.
Real estate investors and property managers looking for affordable, full-featured property management software may wish to give TenantCloud a closer look. The software provides tools for listing vacant rentals, screening tenants, and collecting rent online.
TenantCloud was founded in 2014 with the mission of making life easier for landlords. According to the company’s website, more than 2 million landlords and tenants in all 50 states and 40 countries around the world are using TenantCloud.
According to Landlord Gurus, a company that provides advice to landlords and property managers, TenantCloud was ranked as the seventh best reporting and accounting tool for landlords. When creating the list, Landlord Gurus considered key criteria such as expense tracking, reporting, tax preparation, and cost.
TenantCloud offers 3 different pricing plans that currently range from free to $50 a month, plus a custom pricing plan designed for investors and property managers with large-sized portfolios. All plans include an unlimited number of properties and units and an unlimited number of online rental listings.
The company also offers a 20% discount for customers who pay annually and a free trial.
The Free plan is designed for investors looking for basic features and for users who want to give TenantCloud a try. Features include:
- No monthly fee
- Rent payments
- Maintenance requests
- Vendor network access
The Starter plan is a good option for landlords willing to pay a bit extra for additional features, such as tax reporting and Google Calendar syncing. The Starter plan costs $15 a month and currently includes everything in the Free plan, plus:
- Premium leads for online listings
- Tax reporting and more
- Lead tracking for CRM
- Auto pay for tenants
- Google Calendar sync
TenantCloud recommends the Growth plan for landlords with small and medium-sized portfolios looking for additional functionality, such as an individual owner portal and QuickBooks Online syncing. The Growth plan costs $50 a month and currently includes everything in the Free and Starter plans, plus:
- Property manager tools
- Individual owner portal
- Management fees
- Lease builder
- Property message board
- QuickBooks Online sync
The Business plan is designed for property managers looking for customized features and pricing. Those interested in the Business plan should contact the company for pricing, which currently includes everything in the Free, Starter, and Growth plans, plus:
- Team management and tools
- Task management
TenantCloud software features
- Automatic listing syndication with online listing websites, including Apartments.com, Trulia, and Zillow
- Ability to create a custom listing website with landlord information, photos of vacant units, and a customized rental application
- Rental applications online with a customized application template and screening questions
- Tenant screening from TransUnion with 3 packages to choose from
- Ability to upload a lease agreement or customize one using the agreement template and request eSignatures from tenants
- Landlord form templates for tenant lease agreements, owner agreements, state-specific documents, and notices to tenants
- Ability to send and receive payments online using a debit card, credit card, and ACH
- Auto pay for tenants to set up recurring monthly payments and enable automatic late fees
- Ability to receive maintenance requests online, including videos and pictures from tenants for needed repairs; assign the job to a service professional; and track time and materials
- Accounting to store, sort, retrieve, and summarize financial data, including property transactions and balances, and ability to download files in Excel, CSV, PDF, QuickBooks, and Numbers formats
- Syncing with QuickBooks online for income and expense transactions and financial statement preparation.
- Reporting features, including profit and loss, general income and expenses, deposits summary, property owner statement, amortization and depreciation tracker, tax preparation report, and 1099 tax forms
Pros and cons of TenantCloud
TenantCloud is a relatively inexpensive solution for owners and managers looking for a full suite of property management tools online. The company offers features such as online listings for vacant property, online tenant screening and rent collection, and maintenance request coordination.
However, some investors may find the reporting and financial tracking tools from TenantCloud to be somewhat limited.
As Landlord Gurus noted in its report of the best accounting software for landlords, TenantCloud scored lower than Stessa in key categories, including bank integration, tax preparation, cost, and expense tracking.
TenantCloud subscribers can improve reporting and financial reporting by syncing with QuickBooks Online for an extra monthly fee. Small business pricing plans for QuickBooks Online currently range from $25 a month to $180 a month, with 70% off for the first 3 months.
Stessa vs. TenantCloud: How to decide?
Both Stessa and TenantCloud provide accounting and reporting software for rental property owners and managers.
Investors looking for free, cloud-based financial reporting software that is rated #1 may find Stessa to be the ideal choice. While the company currently doesn’t provide features such as tenant screening and rent collection, there are several good options online, so there’s no reason to pay a subscription fee.
On the other hand, TenantCloud may be a good match for investors looking for a full suite of property management solutions all in one place. The company offers different levels of pricing plans and features, although TenantCloud isn’t ranked nearly as high as Stessa for reporting and accounting tools for rental property.