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Aaron N. Tubbs

Dragon chaser.

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I knew something was up when the entire complex was surveyed a few weeks ago. And, by extension, when the community manager was gone. And when the website went “down for maintenance” except the website was up, just “disabled for this property.” And when all the financials were being audited in great detail by a huge 20-person (it appeared) team one day. And when mountains of Dell computers showed up.

So, it was no surprise to find out today that my entire apartment complex has been sold by Archstone to TGM; I sort of saw it coming. Here’s their blurb:

SEC-registered real estate investment advisory firm with a single focus: achieving high rates of return for clients on investments in multifamily-properties. On behalf of its clients, TGM acquires, manages and sells apartment properties throughout the U.S.

Grrreat.

First things to go (on day one):

  • Online automatic rent payment (now I have to write checks in person each month).
  • Community manger (who was excellent)
  • Guarantee of service in 24 hours (one of the reasons I rented here)

None of this was communicated, except for the rent thing; I inquired whether they would be sending communications of changes, and “oh, there shouldn’t be any.” They will “send out communications as needed to clarify things.”

And it’s not hard to find horror stories of what happens to Archstone properties when acquired by TGM.

So, it looks like Archstone Stamford is on the way down the TGM shitter. I’ll cross my fingers, but I’m not hopeful. I need to check out my lease and see if it covers the previous guarantees that are now gone, and if so what sort of legal rights that provides me.