With 800,000 units now being tracked, Stessa’s momentum grows with a new suite of advanced features for real estate investors
OAKLAND, Calif., March 10, 2023 /PRNewswire/ — Stessa, a Roofstock subsidiary and leading software solution to help landlords optimize and better manage their rental property portfolios, has surpassed $100 billion in total asset value tracked on the platform with over 190,000 investors using Stessa to manage more than 800,000 units. As the robust finance platform continues to grow, exceeding $1 billion in assets added each month, Stessa will now offer customers the option to upgrade to Stessa Pro to access new and advanced tools purpose-built for real estate investors.
Available now, Stessa Pro is a paid subscription starting at $16 per month that provides even more automation and integrated tools. The upgrade includes sophisticated reporting dashboards, collaboration tools, unlimited Smart Receipt scans, and a significant interest rate boost with 4.55% APY on Stessa Cash Management balances1.
“With the addition of Stessa Pro, Roofstock offers investors further visibility and control of their real estate investment portfolios,” says Gary Beasley, CEO and co-founder of Roofstock. “For investors looking to save time and money, Stessa Pro is going to be the go-to solution for rental property owners – from taxes to reporting to cash management.”
With tax season approaching, one of the most valuable benefits of Stessa Pro is the ability to automate accounting efforts and generate a tax package ready to send to an accountant, saving investors time and money. By harnessing the power of machine learning and automation, Stessa Pro software reads, categorizes, and organizes, accurately recording deductions in nearly real-time. With current market conditions, tracking the performance of one’s investment properties has become increasingly vital for rental property owners. Stessa connects directly with banks, lenders, and property managers to provide transaction data in real-time. The most important financial metrics are at your fingertips, whether working at your home office or on the go with Stessa’s mobile app.
Stessa Pro members can further streamline portfolios and increase returns with a high-yield checking account through Stessa Cash Management. Upgraded customers enjoy no minimum or maximum cash management balance, no account or transaction fees, and can send outgoing wires for $5 each. Account holders also receive 1.10% cash back on debit card purchases.
“Stessa is very easy to use and organize; it’s the best asset management app in the business. Out of ten other ‘highly-recommended’ platforms, this is by far the most user-friendly and accommodating,” says Jay Fujiki, a Stessa Pro customer. “For investors who keep their own books, the Stessa Pro tax package will save a ton of time and money come April.”
“Not only does Stessa Pro offer an APY that is hard to beat, but the combination of automated bookkeeping, accelerated rent payments, and a one-click Schedule of Real Estate Owned (SREO) is a huge time-saver for busy investors,” says Heath Silverman, co-founder of Stessa and now VP of Retail Product at Roofstock. “New additions like a Schedule E worksheet coupled with Balance Sheet and Capital Expense reports, organized at both the property and portfolio levels, are also extremely valuable as we are in the midst of tax season.”
To learn more about Stessa and Stessa Pro, visit https://www.stessa.com/.
1Pro is a premium plan. Annual Percentage Yield (APY) of 4.55% for the Stessa Pro tier is accurate as of February 6, 2023. APY for the account may change at any time, before or after the deposit account is opened. No minimum balance or opening deposit required. Fees could reduce earnings on the account.
Stessa is a financial technology company, not a bank. Banking services provided by Blue Ridge Bank, N.A., Member FDIC. The Stessa Cash Management Visa® Debit Card is issued by Blue Ridge Bank, N.A., pursuant to a license from Visa U.S.A. Inc., and may be used everywhere Visa debit cards are accepted.
Roofstock is the leading platform supporting investors throughout the entire property lifecycle in the $4 trillion single-family rental home (SFR) sector. Its integrated, data-driven technology and curated investment recommendations make it possible for investors to maximize opportunities across the U.S. and realize substantial rewards in a customized, transparent, digital experience. The company provides extensive resources to buy, manage, and sell investment real estate online. Founded in 2015 and named as a member of the Forbes Fintech 50 for the fourth straight year, Roofstock has raised over $400 million from investors such as Khosla Ventures, Bain Capital Ventures, Lightspeed Venture Partners, Canvas Ventures, SVB Capital and SoftBank Vision Fund 2. A proptech unicorn, Roofstock has facilitated more than $5 billion in transactions on its platform to date.