Geez.... you guys are hard core.... "rip it down...." you just quadrupled the amount of work for me....ok, for my hubby.... you really think painting won't do the job?
I painted the paneling in my mom's basement - a white shade
I think it looked fine, big improvement & made it much brighter
I never ended up replacing it
Another Apt (very cheap rent) we installed paneling rather then paint
I actually like some paneling, too much can be overpowering
If it's an exterior wall then I hope they sealed the sheetrock 1st
My last house they put up pieces of sheetrock in the kitchen (and main room)
So it was always cold out there
One reason some people will always say to tear off
So you can check to see if there are any problems
Myself I hate to waste materials