Have you ever wondered how other landlords and property owners seem to do it all without missing a beat? More often than not, the secret is property management software.
This type of software offers various features and benefits for landlords (and some functionality for renters, too!). Whether you want to create an expense tracking system, automate rent receipts, or implement better financial reporting, most property management tools can do this for you.
Today, we will dive deep into Landlord Studio vs. Stessa to help you decide which option is best for your business. We’ll also give you a side-by-side comparison with TurboTenant to show why we continue to be one of the top choices in landlord software.
Let’s get right into it!
Key Insights
- While Landlord Studio and Stessa can be useful for anyone in real estate, Stessa is geared primarily toward real estate investors. Landlord Studio caters to landlords. The tools aren’t designed specifically for renters, but renters can benefit from lease tracking, maintenance requests, and other features.
- Both platforms offer rent collection, expense tracking, and related services for property management. Although Landlord Studio offers financial reporting, reviews mention that Stessa’s reporting is top-of-the-line for simplifying taxes and getting the most comprehensive view of your property’s performance.
- Neither platform offers tenant communication. There is, however, a Stessa app and a Landlord Studio app.
- If you’re looking for affordable property management software that offers rent collection, financial reporting, communication tools, scheduled showings, lead generation, maintenance requests, and everything in between, consider TurboTenant. We are a leading property management software that is efficient, organized, easy to use, and made for landlords like you.
Introduction to Landlord Studio
Landlord Studio was created by a landlord who saw a need for a streamlined property management tool. Since there didn’t appear to be anything on the market like it at the time, he designed an app and eventually created the business you see today.
From day one, the company has continued to evolve to address the growing needs of landlords all over.
Some of the key services and features of Landlord Studio include:
- Tenant Screening
- Rent Collection
- Property Maintenance
- Rental Accounting
- Tax Reporting
Introduction to Stessa
Stessa was built by two seasoned entrepreneurs who opened various technology and real estate investment businesses before entering the property management software space. As active real estate investors and working full-time, it became difficult for the two business owners to keep up with the ins and outs of their investments.
They sought a better way to manage properties and make insights that could maximize investments and drive more revenue to investors. When the entrepreneurs evaluated a property and figured out how to increase its value significantly, they decided to create a piece of technology that could help other investors and property owners do the same.
Their goal was to simplify property management while automating the process to give investors their time back.
Some of Stessa’s key features and services include:
- Accounting
- Leasing
- Tenant Screening
- Landlord Banking
- Rent Collection
In-Depth Comparison: Landlord Studio vs. Stessa
Below, we’ll compare Landlord vs. Stessa feature by feature to help you decide which software suits your needs.
User Interface and Experience
When you compare Landlord Studio vs. Stessa in terms of user experience, they both have high ratings. However, some reviews mention that once you’re in Stessa, it can be hard to find what you’re looking for. The good news is that customer support is available for both platforms in case you have questions.
Tenant and Lease Tracking
While Stessa doesn’t specifically mention a lease tracking feature, it has a Leases & Tenants page, where you can input properties, tenants, and information from your leases. That way, you can stay in the know.
Moving on to Landlord Tenant, it offers the ability to track leases, making it simple to keep tabs on past and present leases. The tool also allows you to create reminders so that you know when leases are expiring.
Maintenance and Repair Management
Stessa does not currently offer maintenance management or tracking. However, Landlord Studio does. It allows tenants to submit maintenance requests and landlords to evaluate them.
Soon, Landlord Studio will allow you to coordinate with contractors, monitor when maintenance jobs finish and what they cost, and notify tenants about how the maintenance or request is coming along.
Communication Tools
You can’t communicate with tenants directly in Landlord Studio – except to send receipts, automatic reminders, etc. The same can be said about Stessa.
Financial Management and Reporting
Financial reporting is available with both platforms to help landlords better manage and track their financials. Landlord Studio and Stessa both allow you to integrate directly with your bank account to streamline accounting needs. That way, all the data gets pulled in automatically.
In addition to that feature, both tools also allow you to create financial reports, scan receipts, track mileage, and complete a variety of other tasks. With this service, you can rest easy knowing that your records are accurate and ready for tax season.
Pricing Comparison
Landlord Studio offers two plans: PRO and GO. The PRO Plan, which comes with a 14-day free trial, starts at $12 per month for three units and goes up $1 for every additional unit. Therefore, the cost of Landlord Studio depends on the number of properties.
The paid plan does not limit the number of units you can include. GO, on the other hand, is a free plan capped at three units. For property owners with a large number of units, Landlord Studio could get expensive.
Regarding Stessa pricing, there are three plans to choose from: Essentials, Manage, and Pro. Essentials is free, Manage costs $15 per month, and Pro is $35 per month when you’re on a monthly plan. Discounts are available if you pay annually. All the Stessa plans – even the free plan – allow landlords to manage unlimited properties.
Mobile App Availability and Features
Both Landlord Studio and Stessa offer mobile apps with many of the same features, including online rent collection, financial reporting, receipt scanning, and more. The Landlord Studio app and the Stessa app are known for being easy to use.
User Reviews: Landlord Studio vs. Stessa
Here’s what users have to say about Landlord Studio vs. Stessa:
Landlord Studio
Pros:
- Automatic tax calculations
- Easy to implement
- Great customer service
- Clean mobile app
- Ability to input partial and full rent payments
Cons:
- Hard to navigate
- Must scroll far down to view expenses
- Difficult to terminate leases ahead of schedule
- Challenging to prorate rent
- No discount for additional properties
Stessa
Pros:
- Great expense tracking
- Responsive customer service
- Makes taxes a breeze
- Gives a bird’s eye view of property performance
- Clear reporting
Cons:
- Tricky to navigate
- Can’t split transactions
- Limited customization
- No marketing options
- Doesn’t work with all banks
Making the Right Choice: Factors to Consider
All in all, Landlord Studio and Stessa serve their purposes, but there is much to consider when deciding on property management software. First, you have to look at your budget and the number of properties you manage.
If cost is a concern, both companies offer a free plan. However, when it comes to the paid plans, although Stessa’s plan is slightly more expensive, the cost stays the same no matter how many properties you have. Landlord Studio costs more as you add properties after the first three.
That said, Stessa’s Manage plan ($15 per month) has limited functionality compared to their Pro plan, which costs $35 per month. If you need more advanced features, such as unlimited portfolios, advanced transaction tracking, waived tenant ACH fees, etc., then it could be more affordable to use Landlord Studio. It simply depends on the features that are important to you.
In terms of important considerations, customer support sits high atop the list. Fortunately, both tools offer support, with Landlord Studio offering priority support for the paid plan and community support for the free plan. Stessa offers basic support for all plans, prioritizing the two paid options and live support for the highest tier.
At the end of the day, when deciding on Landlord Studio vs. Stessa, consider the features you value the most (e.g., maintenance tracking, accounting, or lease tracking). That will help you narrow down your search for the best property management software.
Why TurboTenant Stands Out
Now that we’ve covered the differences between Landlord Studio vs. Stessa, you should know that those are not your only options. TurboTenant is another trusted and valuable property management tool with much of the same – if not more – functionality at a fraction of the price.
Some of our many features and benefits include:
- Rental Advertising
- Applications
- Tenant Screening
- Tenant Background Check
- Lease Agreements
- Document Storage
- Free Online Rent Payments
- Automatic Late Fees, Receipts, and Reminders
- Rent Tracking
- Maintenance Requests
- In-App Messaging
- 7-Days-a-Week Chat and Email Support
If you’re looking for the right software to manage your properties, try TurboTenant today for free. You won’t be sorry!