I currently use another rental tracking software called Rentec Direct and it has the ability to manage the multi unit as well as the property itself.
It allows me to track expenses and rents at the units as well as general expenses that are for the full property itself.
Please enable a master property view with units tracked individually for revenue/expenses.
Until this works I can’t subscribe to Stessa Pro as I need this tracking method enabled for transactions.
Thanks.
@steven I’m not familiar with the output of Rentec. Stessa’s reporting does offer a version of this in their Net Cash Flow report. It does not break it down by month but you can change the filters to custom time range. See screenshot for “Property” level and then individual units. An alternative you can consider is to create an additional unit called “Common Area” or “General” if you truly want to segregate the expenses. At the moment in Stessa, you would choose to not assign a unit to the transaction.
-Tom
The challenge is that if I create three separate units then the balances will be off. See the screenshot I just took from Rentec.
When I enter an expense i can decide if the expense is tied to an individual unit of the duplex or for the main duplex itself. We don’t have any common areas that require separate CAM costs.
I like the idea of moving to Stessa, yet without this flexibility of how I track my expenses at the property I won’t be able to move over to Stessa.
Thanks for hopefully making the needed upgrades so i can transition to a Stessa pro account!
Steven
@steven, I think Stessa can accomplish what you’re needing to do.
You can classify income and expenses to either the property level or the unit level. For example, income is classified at the unit level (so that the tenant ledger is maintained), insurance and property taxes are classified at the property level.
On the reporting, such as the Net Cash Flow report, everything is rolled up to the property level unless you drill down by unit.
Let me know if this answers your question, perhaps I misunderstood.
