Riverside Park Apartments are nice, fairly upscale apartments. When Equity owned the place, it was fantastic to live there. Now, it's owned by Gaines Investment Trust, which is a shady, unscrupulous business. They specialize in backloading fees no renter would ever expect to have to pay, and they charge you to re-paint and re-carpet the apartment when you move out. These are costs that should be covered by the rent you pay.

Gaines insists that the life expectancy for carpet is 5 years, and that paint is 3 years. According to this, if you live there for 3 years, they consider you to owe 2 years on the carpet, whether they replace it or not. So in effect, if you move out after 3 years, you will be paying for 40% of the cost to replace the carpet, even if they don't actually replace it.

They claim they don't charge for "normal wear and tear" - this is a complete lie. They charge fees for everything.

This is a nice place to live, but be prepared to get nickeled and dimed to kingdom come.

User Responses
From: VVandever	Date: 08/07/2008
I am the Manager of Riverside Park and feel really badly for Mr.???Paxdomini.??? He and his family were lovely residents and we enjoyed them very much. He talked to me, before he moved, because he was worried about the condition of his apartment. I told him we would do the best we could to keep from charging him for entirely new carpet. We patched a large area where his cat tried to ???remove??? the hall carpet. We did have to replace both bedrooms, but prorated the cost so that he paid only 40% of the cost and Mr. Gaines paid the rest. Mr. Gaines paid most of the paint bill, also. We sent receipts for everything we did. The charges are always discussed with residents, when they give notice. A list of ???Wear and Tear Credit??? is given to residents when they sign their lease. We credit a nice amount for normal wear and tear, which increases with time in residence. Mr. Gaines would never allow us to charge for replacement or work not done. We are expected, to be fair and ethical, in all we do. As a matter of fact, part of our company Mission Statement is ???treat everyone as we would want to be treated???.doing the right thing when no one is looking.??? We hope their feelings will improve as they remember their happy times at Riverside Park and realize that we have only charged a small part of the price for rather outstanding damages.

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