The Wall Street Journal reports landlords all over the U.S. are using social networking sites to attract new rental business, as well as to help current tenants socialize with one another.
H. Andrew Cantor, vice president of investor relations for UDR, told the paper his company is utilizing social networking on their website so they can adapt to the way people prefer to conduct business today.
The paper states "landlords have taken their sites well beyond advertising vehicles. In some cases, prospective tenants see the actual view an apartment would offer," noting how AvalonBay, a luxury department developer, has created a website which displays what rental units are available, individual floor plans and specific apartments which are on hold in their buildings.
This increase in social networking with apartment communities makes it easy for landlords to utilize features like online leasing and conduct resident screening.
Survey results from a study conducted by J. Turner Research in the first half of 2010 show residents living in residential and student apartments have some interest in social networking with other members of their apartment community.