Lived here more than 2 years and have seen 3 management companies in that time. The quick summary is that you get what you pay for and things are certainly headed for the worse. While this place is cheaper compared to the newer apartment complexes in the Las Colinaas area, there are a few things to be aware of.

First, the positives:

floor plans are spacious and unique
Appliances and carpeting is newer depending on the unit you get
Due to age of units and building, are receiving some much-needed upkeed

Now the real story:
Parking is a constant challenge and if you get in late from work or on a weekend, be prepared for either a long walk to your apartment or parking in the ungated (visitors) side of the complex. Like others have said, get a carport or a garage ($40 currently).
Being dog-friendly is not always human-friendly. From time to time you will find yourself dodging pooches and their poop and pee, in the garden area, stairways and other common areas. If you have young children, this is even more aggravating.
HVAC unit is old and inefficient compared to energy-saving units you can find in new apartment complexes
Water and sewage bills. Your bills will soar for no apparent reason. When asked, they will tell you that you are being billed not just for your own water usage, but that of the entire complex. Go figure that! I guess they subscribe to some sort of socialist philosophy. You will be paying for gardening the apartment grounds, water to fill the pools, water consumed in larger units with larger families or generally larger needs. Moreover, you pay more when their apartment complex occupancy drops because now the same water bill they get is evenly spread. Like peanut butter. Just more unpleasant.
Staff is pretty clueless at BEST. Not having an unpleasant interaction is usually an exception rather than the rule. Unpleasantness aside, they are lazy and...did I mention cluelss' Waiting for my lease papers for the last 4 months!

If you are going to move here, ask the hard questions before-hand and dont take evasive answers. When you do the math of higher bills and parking, you are simply better off paying a bit more in rent and getting a newer and more pleasant unit.

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