Watts Property Management

What Watts Property Management does

Watts Property Management is a privately-held, licensed real estate firm headquartered in Rustburg, Virginia, that provides residential and commercial property management services across approximately 11 counties in central Virginia, including Lynchburg City and Campbell, Amherst, Appomattox, Bedford, Pittsylvania, Charlotte, and Halifax counties. The company manages a portfolio of single-family homes, townhomes, apartments, manufactured homes, commercial retail and office space, and storage units, and operates a luxury apartment sub-brand called Augusta Springs Community near Liberty University. Its customer base is bifurcated: on the supply side, property owners and landlords who outsource tenant placement, rent collection, and maintenance coordination; on the demand side, residential renters, commercial tenants, and storage customers in rural Virginia.

The company is operationally lean, with only three to five identified team members (Crystal Smith as Property Manager, Heather Moyer as Maintenance Supervisor, and Georgianna Stone as Assistant) supported by an after-hours emergency maintenance line. Its technology stack is built entirely on the AppFolio third-party property management platform, which powers online rental applications, tenant screening, background and credit checks, and electronic rent payments. Watts does not appear to develop any proprietary technology, hold patents, or maintain a mobile application, and its website serves as the primary marketing and listing channel with social media and a cross-referral relationship with affiliated Watts Auction Realty and Appraisals as secondary channels.

Watts generates revenue through a managed-services model that collects management fees as a percentage of rent on behalf of property owners, supplemented by transaction-based application fees ($40 non-refundable per applicant over 18), pet deposits ($250 per pet) and pet rent ($25/month per pet), tenant rent collection flows, and ancillary storage unit rentals ($85-$95/month). Pricing varies by property, with residential rents ranging from $750 to $1,795 and commercial space from $700 to $1,195 per month. Since January 1, 2021, all new tenants have been required to carry renters insurance, with State Farm (via Jack Dean Insurance) suggested as a partner option. The business carries no institutional funding, no public listing, and no disclosed M&A activity; it appears to be family-operated with deep local ties to the central Virginia market.

Name

Watts Property Management

Legal name

Watts Property Management

Website

https://wattspropertymanagement.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Watts Property Management is a privately-held, licensed real estate firm in Rustburg, Virginia, managing residential rentals, commercial properties, and storage units across approximately 11 counties in central Virginia using the AppFolio platform, serving local landlords, tenants, and small businesses.

Ownership category

akta.pro rank

Product category

Residential Property Management

NAICS

Residential Property Managers (531311), Real Estate Property Managers (53131), Lessors of Miniwarehouses and Self-Storage Units (53113)

SIC

Real Estate Agents & Managers (For Others) (6531), Operators Of Apartment Buildings (6513)

akta.pro primary industry

Single-Family Rental (SFR) Property Management (BPAJAFAB)

akta.pro secondary industries

Multifamily Apartment Property Management (BPAJAFAA), Residential Lease Administration & Tenant Services (BPAJAFAL)

Keywords

• Residential property management
• Rental home leasing
• Commercial property rentals
• Tenant application processing
• Maintenance coordination services

Headquarters

HQ city

Rustburg

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Property Management Fees: The company earns revenue by managing rental properties for property owners, handling tenant placement, maintenance, and collection. Specific fee structures for landlords not disclosed in source material.
2. Application Fees: Non-refundable application fee of $40 per applicant over 18 years of age. Applications stay on file for 45 days.
3. Tenant Rent Collection: Company collects rent from tenants and remits to property owners after deducting management fees. Online payment system via AppFolio.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Watts Property Management manages residential rental properties (single-family homes, townhomes, and apartments) and commercial properties (retail, office, and warehouse/storage) on behalf of property owners across Lynchburg and surrounding Virginia counties. Tenants find listings on the company website and apply/pay rent through the AppFolio portal, while owners receive tenant placement, rent collection, maintenance coordination, and required landlord documentation support.

Product overview

Watts Property Management operates as a unified residential and commercial property management service centered in Rustburg, VA, serving the greater Lynchburg region. The core offering is residential property management encompassing single-family homes, townhomes, and apartments across multiple Virginia counties. Supporting this core are storage unit rentals at the 29 Storage Units location, and the Augusta Springs luxury apartment community. Additional services include commercial rentals, an AppFolio-powered online rent payment portal and rental application system, maintenance request handling with emergency support, and new owner/property management onboarding services. The company also partners with Watts Auction Realty and Appraisals (a sister company) to offer real estate purchase and auction services. The portfolio is coordinated through AppFolio property management software for applications, payments, and tenant management.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential Property Management Full-service residential property management covering single-family homes, townhomes, and apartments for rent in Lynchburg and surrounding Virginia counties, including Campbell, Amherst, Appomattox, Bedford, Charlotte, Halifax, and Pittsylvania counties.
• Commercial Rentals Commercial space rentals including retail storefronts, office spaces, and warehouse/storage buildings in Gretna, Madison Heights, and Altavista, VA.
• 29 Storage Units Self-storage units at the 29/Wards Rd location between Foster Fuels and Yellow Branch Elementary School, offering 10x10 units at $85/month and 10x20 units at $95/month with optional $10 lock.
• Augusta Springs Community Apartments Luxury apartment community located at the intersection of Highways 24 and 29 in Rustburg, Campbell County, VA, featuring spacious floor plans and proximity to Liberty University.
• New Owner Property Management Services Onboarding and management services for landlords and property owners, handling single-family homes through multifamily properties, with downloadable landlord obligation documents, Property Information Form, and VAR Owner-PM Agreement templates.
• Online Rent Payment Online rent payment portal powered by AppFolio, allowing tenants to pay rent electronically.
• Rental Application Processing Online rental application system with $40 non-refundable application fee, tenant screening, background checks, and credit verification via AppFolio.

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Watts Auction Realty and AppraisalscoreStrategic or Co-development PartnerWatts Auction Realty and Appraisals (Watts ARA) is an affiliated company sharing the Watts name. The property management company refers home buyers to Watts ARA for purchasing homes and auction services. Both companies are located in the same area and appear to share ownership.
• State Farm Renters InsuranceminorGTM or Marketing PartnerWatts Property Management suggests State Farm (via Jack Dean Insurance) as an option for tenants who need renters insurance, which is required as of January 1, 2021 for all new tenants.
• AppFoliocoreTechnology or IntegrationAppFolio provides the property management platform used by Watts Property Management for online rental applications, tenant screening, and online rent payments. Company website links to AppFolio portal for tenant transactions.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Bell Partners: Vertically integrated multifamily owner/operator with third-party management services; relevant broad incumbent given Watts' multifamily and residential rental mix in Virginia.
• Greystar Real Estate Partners: Largest U.S. multifamily and student housing property manager/operator; relevant incumbent comparable because Watts operates Augusta Springs apartments and broader multifamily product.
• Asset Living: Large national third-party multifamily property manager; broad incumbent overlap with Watts' apartment management and landlord services portfolio.
• Extra Space Storage: Large national self-storage operator; comparable because Watts operates the 29 Storage Units business and competes for the same self-storage demand in the region.

Direct peers

• All County Property Management: Franchise property management network serving single-family and multifamily rentals with similar landlord-facing service model; a like-for-like small-operator comparable for Watts' target market.
• Mynd Property Management: Tech-enabled residential property manager focused on single-family rentals for individual investors; comparable business model and target customer (small landlord owners), but operating at materially larger scale.
• Real Property Management: Franchise-based residential property management network operating across the U.S., offering full-service single-family and multifamily management comparable to Watts' core offering but at greater geographic scale.
• Renters Warehouse: Single-family rental-focused property manager serving investor landlords across multiple states; comparable in core service offering and customer segment but with broader geographic reach.
• HomeRiver Group: National single-family rental property manager providing tenant placement, rent collection, and maintenance for institutional and individual owners; direct overlap in service scope and customer type.

Emerging players

• RealManage: Technology-enabled property management provider for community associations and rental portfolios; comparable emerging player offering similar owner-facing services with modernized tech stack.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/wattsproperty
• LinkedInlinkedin.com/company/watts-property-management

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Watts Property Management