SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

         Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  March 31, 1999

                      APPLE RESIDENTIAL INCOME TRUST, INC.
             (Exact name of registrant as specified in its charter)

         VIRGINIA                   0-23983                   54-1589139
        (State of                 (Commission                (IRS Employer
      incorporation)              File Number)             Identification No.)

   306 East Main Street
     Richmond, Virginia                                          23219
  (Address of principal                                        (Zip Code)
    executive offices)

               Registrant's telephone number, including area code:
                                 (804) 643-1761


<PAGE>



                      APPLE RESIDENTIAL INCOME TRUST, INC.

                                    FORM 8-K

                                      Index

Item 5.       Other Events.

Item 7.       Exhibits.

              Exhibits:

              99    Press Release dated March 31, 1999  announcing  the entering
                    into of a definitive merger agreement by Cornerstone  Realty
                    Income Trust, Inc. and Apple Residential Income Trust, Inc.


<PAGE>



Item 5.  Other Events

          On  March  31,   1999,   Cornerstone   Realty   Income   Trust,   Inc.
("Cornerstone")  issued a Press Release  (attached as an Exhibit to this Report)
announcing  that it had entered into a definitive  merger  agreement  with Apple
Residential  Income Trust, Inc.  ("Apple") under which Cornerstone would acquire
Apple.


<PAGE>



                                    SIGNATURE

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                            Apple Residential Income Trust, Inc.

Date:  April 5, 1999                        By: /s/  Glade M. Knight           
                                            ------------------------------------
                                               Glade M. Knight
                                               Chief Executive Officer
                                               Apple Residential Income
                                               Trust, Inc.


<PAGE>



                                Index to Exhibits

Exhibit No.                           Exhibit
----------                            -------


   99               Press Release dated March 31, 1999  announcing  the entering
                    into of a definitive merger agreement by Cornerstone  Realty
                    Income Trust, Inc. and Apple Residential Income Trust, Inc.
[{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 3011}]
{"company-data": {"conformed-name": "APPLE RESIDENTIAL INCOME TRUST INC", "cik": "0001021351", "assigned-sic": "6798", "irs-number": "541816010", "state-of-incorporation": "VA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-23983", "film-number": "99587529"}, "business-address": {"street1": "306 EAST MAIN STREET", "city": "RICHMOND", "state": "VA", "zip": "23219", "phone": "8046431761"}, "mail-address": {"street1": "306 EAST MAIN STREET", "city": "RICHMOND", "state": "VA", "zip": "23219"}}
SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

         Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  March 31, 1999

                      APPLE RESIDENTIAL INCOME TRUST, INC.
             (Exact name of registrant as specified in its charter)

         VIRGINIA                   0-23983                   54-1589139
        (State of                 (Commission                (IRS Employer
      incorporation)              File Number)             Identification No.)

   306 East Main Street
     Richmond, Virginia                                          23219
  (Address of principal                                        (Zip Code)
    executive offices)

               Registrant's telephone number, including area code:
                                 (804) 643-1761
APPLE RESIDENTIAL INCOME TRUST, INC.

                                    FORM 8-K

                                      Index

Item 5.       Other Events.

Item 7.       Exhibits.

              Exhibits:

              99    Press Release dated March 31, 1999  announcing  the entering
                    into of a definitive merger agreement by Cornerstone  Realty
                    Income Trust, Inc. and Apple Residential Income Trust, Inc.
Item 5.  Other Events

          On  March  31,   1999,   Cornerstone   Realty   Income   Trust,   Inc.
("Cornerstone")  issued a Press Release  (attached as an Exhibit to this Report)
announcing  that it had entered into a definitive  merger  agreement  with Apple
Residential  Income Trust, Inc.  ("Apple") under which Cornerstone would acquire
Apple.
SIGNATURE

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                            Apple Residential Income Trust, Inc.

Date:  April 5, 1999                        By: /s/  Glade M. Knight           
                                            ------------------------------------
                                               Glade M. Knight
                                               Chief Executive Officer
                                               Apple Residential Income
                                               Trust, Inc.
Index to Exhibits

Exhibit No.                           Exhibit
----------                            -------

   99               Press Release dated March 31, 1999  announcing  the entering
                    into of a definitive merger agreement by Cornerstone  Realty
                    Income Trust, Inc. and Apple Residential Income Trust, Inc.