Talk of the town these days, Brent. Facebook Fan and Corporate pages are popping up everywhere...but your Question is the "Daily Soup".
Strategic focus on the practical uses and remedies of business-related social media takes time and attention to detail, but can serve as an EXCELLENT resident portal for everthing from maintenance info, special events, local community happenings, emergency alert advice/suggestions, apartment living help tips and the good ol' "Getting to know your neighbor" social mixing info source.
Creating Fan pages are important as long as they don't stagnate. An active plan of keeping Facebook page communication transparent and current is imperative. Once rigor mortis sets into a page that holds no value for anyone...yuck, morbid image. Sorry.
There are some GREAT property Facebook pages out there...MarkTaylor, Kettler, MEB Properties, Bell Properties, Urbane Properties, JC Hart Communities...you guys add to the list and shout out your successes.