Support for Duplex/Multiplex homes

The issue that I am tackling every month is that I have a rental unit in AR which is a duplex. There are two tenants with two street addresses but the mortgage is just one.

For now I always just divide the mortgage payment right down the middle. Would be nice if there was a way to link the two addresses together but pay the mortgage as one.

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Thanks for your question!

Our suggestion for duplexes is to track it as 1 property, even if it has 2 street addresses. A “property” on Stessa should correspond to a parcel, which usually also corresponds to 1 mortgage and 1 property tax bill.

First, when adding the property, try searching if our property database has the parcel with the address number range. For example, you can try searching for “571-573 Maple Ave”. If that doesn’t come up, then just use 571 Maple Ave.

Then, set up the property as a 2-unit building. You can name the first unit “571” and the second unit “573”, or something similar. Assign each of your tenants and their rents to the correct unit. Your mortgage can be assigned to the property. If you have other expenses (utilities, insurance, property tax), you can choose which ones are assigned to the unit and which ones are assigned to the property.

Hope this helps!

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I am already set up with 2 properties (244 and 248 S. 10th) for my duplex.

Is there an easy way to merge the two properties into one property and then break it back down into 2 units?

Late to the conversation but you can add the extra units on the property you are keeping and then change all expenses. I believe there is a mass change process.