I lived at Waterford Place for two years. While it's true that there are a lot of loud parties and homeless people, in reality they aren't really something worth complaining about. Behind Waterford down Wilkerson St there is a sprawling homeless community that pretty much stretches down to North Avenue. The homeless guys don't hurt or bother anyone, they just dig through the dumpster occasionally. It kind of gives the place character. Same goes for the parties. If you throw a party at Waterford, you will have a lot of attendees since it is centrally located and well-known. For parents, having your kid live at Waterford can provide some peace of mind because they're never tempted to drive drunk; everything you need is within walking distance.
The maintenance staff was always prompt and were pretty cool guys. Tim especially is a nice dude and will try to help you out whenever possible (ie giving you a break if it's your fault something is broken).
The river and park behind the apartments is nice to look at despite the trash that gets thrown back there. They hire a groundskeeping crew to go back there and clean up every month or two, which is about all you could ask for. There is also a cool Bob Marley and Buddha mural down there that I think management has left on purpose.
To wrap it up, Waterford has its problems but they are overshadowed by its benefits. It isn't really suited for preppy or snobby people who call anywhere with cracks in the pavement a "------". However it is a great place for anyone who wants to get into the Athens culture and community.
PS - The pool sucks hard :( You will find yourself going down the road to the Woodlands or the Summit if you like to swim