I agree with Jeremy that contests can be a great tool.
That said, we've had a fair amount of success with Facebook ads, especially promoting the property's page and specific posts.
We've also started using the Custom Audiences and Lookalike Audiences features, which let us stay in front of people who have visited the property website, as well as anyone Facebook can find who seems similar to our best customers. We use the Custom Audiences to target current residents to promote property events and get them connected to the property page.
Overall, I'd still say that, if your goal is new traffic in the door, I'd invest most of that budget with Google, but Facebook can be a great way to complement that to stay in front of those prospects and grow your audience. Good luck!