Stessa vs. AppFolio: Which Is the Best Free Real Estate Bookkeeping Software?

Property managers and real estate investors clearly understand the necessity of accurate bookkeeping. With so many transactions, sources of income, and expenses to keep track of, the right real estate accounting tools could mean the difference between success and failure for your business. In this blog, we break down the Stessa and AppFolio comparisons to help you decide the best free real estate accounting software for your needs.

Overview: AppFolio vs. Stessa

Stessa and AppFolio are two of the most commonly talked-about platforms in the space of tools for real estate accounting. Yet, they serve different users and offer features that are markedly different.

What is Stessa?

Stessa is a free real estate bookkeeping tool designed for private landlords and investors. It has a set of financial reporting tools, automated income and expense tracking functionality, and a user-friendly interface to help track trends in your portfolio performance.

What is AppFolio?

With property management software customized for larger portfolios, AppFolio is an all-in-one property management solution. It consists of one platform combining accounting functionality, leasing tools, tenant communication, and maintenance requests. Even so, it does not come for free.

Stessa vs. AppFolio:

Features Pricing

Stessa: The core features are completely free. Premium services (such as banking and rent collection) require paid enhancements.

While AppFolio has some applicable free features, it is not entirely free. Residential portfolios are priced at $1.40 per unit per month with a monthly minimum of $280.

For anyone looking for free real estate bookkeeping software, the winner is Stessa.

User-Friendliness

Stessa: Built with ease in mind. It is ideal for solo investors or landlords with small- to medium-sized portfolios.

While AppFolio is a powerful platform, the learning curve is a bit steeper. This platform is particularly suitable for professional property managers.

Winner: AppFolio for larger property management teams; Stessa for solo users.

Features of Accounting

Stessa includes automated syncing of transactions, expense categorization, mileage tracking, and tax-ready reports.

AppFolio: Robust accounting capabilities, including customizable reports, bank reconciliation, and accounts payable/receivable.

Winner: Stessa for basic, streamlined bookkeeping; AppFolio for advanced accounting requirements.

Tenant Management

Stessa is restricted to rent monitoring and does not provide support for tenant portals or communication.

Author: Full tenant lifecycle management, including screening, leasing, rent collection, and maintenance.

Real estate accounting tools aren’t the reason you’re reading this, but AppFolio won this round.

Mobile Access 

Stessa offers iOS and Android apps along with a mobile dashboard.

Designed to meet the demands of renters as well as property managers, AppFolio is a comprehensive mobile tool.

AppFolio is the top choice for property administrators, while Stessa is a great option for mobile bookkeeping. AppFolio is the top choice for property administrators, while Stessa is an excellent option for mobile bookkeeping.

Main Differences Between Stessa and AppFolio for Real Estate Investors

Which One Is the Best Free Bookkeeping Tool for Real Estate: AppFolio or Stessa?

The level of complexity of your operations, the size of your portfolio, and—of course—your budget will determine which real estate accounting software is best for you.

Reasons to Consider Stessa as Your Choice

Stessa is an obvious choice if your main objective is to monitor income and expenses, generate reports, and maintain organisation for tax season without incurring any subscription fees. It is geared toward small- to mid-sized real estate investors looking to manage investments as quickly and simply as possible.

• Stessa lets you automate the syncing of bank and credit card transactions.
• Income and expenses should be lumped into categories for tax reporting.
• The system generates financial statements such as profit and loss statements and cash flow statements.
• Track the effectiveness and returns of a property over the period.
• Keep documents and records for each property.

Then, all of the information is wrapped up in a clean, easy-to-use, simple user interface that doesn’t bombard you with ridiculous features. If you are a DIY landlord, part-time investor, or a new real estate investor looking for a reliable, zero-cost solution to tracking your accounts, Stessa is a perfect match!

What is the advantage of using AppFolio?

However, if you are responsible for managing a substantial portfolio of properties or operating a full-scale property management business, you will likely require a platform that extends beyond basic bookkeeping. This is the area in which AppFolio excels.

There are multifaceted tools and features within the AppFolio property management system, which include but are not limited to

• Complete services in accounting are inclusive of personalized customer account charts as well as bank reconciliation.
• Portals for tenants and platforms for online payment collection
• All leasing tools are about lease applications, screening, signing, and digitised leases and contracts.
• Oversight and maintenance of vendor maintenance requests
• Systematic operational and financial reporting is accessible together with advanced analytics.

Due to its pricing structure, AppFolio tends to be considered an enterprise-level service. Moreover, it is a paid service. Regardless of the underlying logic, it certainly does streamline operations for bigger teams or companies dealing with hundreds or thousands of units.

It would be erroneous to phrase AppFolio as an accounting-only service. Considering that it offers full-fledged accounting services alongside complete control over the client’s properties and tenants, it thus functions as an omnichannel end-to-end solution.”

Final Thoughts: Which Software Is More Effective for Real Estate Accounting?

The discrepancy between Stessa and AppFolio lies in the distinct requirements that one has:

If a person seeks accounting software for real estate, devoid of any charges and designed with landlords in mind, Stessa would be a selection.

Choose AppFolio if you require an all-in-one solution and if you operate a professional property management business.