San Francisco: Software company Stessa, a portfolio tracking platform for rental property investors, has brought out a suite of features to help owners manage their portfolio in one place.
The platform has undergone significant growth in the last year, and individual investors now rely on Stessa to gain visibility into more than $25 billion in rental property investments.
Fuelled by investor demand, the added features include short-term rental tracking, auto-categorisation of transactions with machine learning, and a more efficient way to arrange real estate documents so they can be easily accessed at any time.
Furthermore, Stessa has added a net cash flow chart that details investment performance, advanced collaboration features and an automatic tax package to help investors fill out their rental property tax returns.
Stessa CEO and co-founder, Heath Silverman, said: “By providing powerful free tools for the individual investor, Stessa makes it easier for landlords to keep track of their real estate investments.
“There’s been incredible enthusiasm from the investor community, and we’re very excited to expand the platform to include Documents in addition to finances and reporting. Our goal is to give real estate investors more visibility with less effort so that they can make better decisions and grow,” he added.
The incoming features include:
Short-term rental tracking: Investors can capture, analyse and report on financial results for vacation rentals alongside buy and hold investments, as well as import transactions quickly and easily with the Airbnb file uploader.
Real estate documents: Securely storing files such as leases, bids, contracts, insurance and legal documents in one place with access from anywhere via a cloud with unlimited storage.
Collaboration advancements: Investors with partners can now share transactions and documents, while rental property owners can collaborate on financial details and share files with partners, brokers and lenders.
Property alerts: Alerts are put in place to notify you when something significant happens or needs attention, such as lease renewals, rent collection and property tax payments.
Tax package: The package generates the reports investors need to prepare their rental property returns as well as complete transaction details for the year.
Net cash flow chart: The chart allows investors to visualise their investment performance at a portfolio and property level over a period of twelve months.
Mobile app enhancements: Investors can now keep up-to-date with performance and expenses on the go with Stessa’s iOS app upgraded to include full dashboard reporting, more accurate receipt scanning and better categorisation options.
Transaction auto-categorisation: Stessa categorises transactions without any manual input using machine learning.
Resources for investors: All registered Stessa users will get free access to valuable resources created by experts to help operate and grow their portfolios, such as top tax deductions and new tax laws on investments.
Stessa, which was founded in 2016, wants to democratise real estate as an asset class and streamline the full real estate ownership lifecycle.
As Americans invest in real estate to build wealth and gain financial independence, the platform looks to offer investors modern and efficient software that simplifies the tracking of financial details, understanding performance and organising documents.
For more information, visit the Stessa website here, where real estate investors can sign up for a free account.