Steve Schwat has a reputation for being a slimy, cut-throat residential developer and landlord in Washington, DC. He's spent years acquiring his well-earned reputation.
I lived in one of his buildings. He never responded to any requests for maintenance. I had to take care of everything myself. I spent thousands of dollars to maintain his property. To add insult to injury, he withheld, no stole, my security deposit despite the fact that I left the property in much better condition that when I moved in.
One of his tenants posted a video on YouTube that shows the horrendous conditions of Steve Schwat's apartments. Check out 723Jefferson303 on YouTube to see for yourself. Lest you think the problem was fixed after the tenant informed Steve of the problem, please view UIP Apartment Leak on YouTube, which was shot months later.
Steve and the company he owns, Urban Investment Partners, do shoddy work. They cut corners, ignore tenants and steal security deposits. I've spoken with many of their tenants and nearly everyone has a horror story to tell about how Steve Schwat and Urban Investment Partners ripped them off by refusing to return their security deposits even though the tenants left the apartments in as good or better condition than when they moved in.
Steve Schwat's only goal in life seems to be to get as rich as possible regardless of the impact on other people.in fact, he states that publicly on his website. The following is from his Urban Investment Partner's webiste. Notice the phrase in bold. Yes, that's correct. Their major concern is maximizing returns, getting rich, making a profit. They don't care about the quality of their work or about their customers. They only care about making money.
If they have developed 3,600 units as the say, many of which they continue to manage, their must be many thousands of ripped off customers out there.
Urban Investment Partners (UIP) is a real estate investment, asset and property management organization specializing in multi-family residential property investment, primarily in the Washington DC area. The firms core activities include the creation and management of multi-property investment funds.By combining local entrepreneurial expertise with global financial strength, UIP focuses on maximizing returns for its private and institutional investors. UIPs market expertise and cutting-edge approach is based on its multi-disciplinary skills, creativity, and customer focus. Since its founding, UIP has successfully introduced more than eight real estate funds with a total valuation of over $200 million. UIP has acquired, developed and/or redeveloped residential properties totaling more than 3,600 units.
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