Searching for a new apartment can be hit-or-miss as well as time-consuming. But what if there were a way to get the real scoop on what it’s like to live at a property, straight from the mouth of tenants who are already living there? Well, thanks to the newest product offering from Chicago-based Yield Technologies, the opportunity to get such inside information on an apartment community is now a reality.

Just like other social networks, allows users to invite friends and family to join their network of renters and property managers. This enables a user to collaborate with family, friends, or existing residents in a community during their apartment hunt. Anything from comparing floor plans of different properties side by side to connecting with current residents and property managers and paying rent online is possible through the social platform. The rental payment feature utilizes, and a mobile application is said to be on the horizon in the next few weeks to support the new website from mobile devices. Essentially the new website allows a user to share all information that would be relevant for a typical apartment search from one centralized platform. And then members can get input from their network on the pros and cons of a particular community. Similar apartment search websites exist, but they do not encompass the same abilities to function as a a one-stop-shop for a collaborative apartment search.

Company president Eric Broughton said in a recent interview that the new product will serve as a one-stop-shop for the apartment search process. “Instead of going to a listings site, then a review site, and then an e-mail to share info, it’s all on one platform. There are ratings and reviews all there, and [viewers] can [hear] a voice of the property,” Broughton told Mashable.

The company's existing software product, RentSentinel, was already a popular marketing tool for property managers. So RentSocial should be fairly accurate and thorough since many of RentSentinel's users have signed up for the new software, with 5,000 properties already in RentSocial's database.

With the demographic of the typical renter continually evolving to be more tech-savvy and network-centric, property managers would be wise to adopt new online tools to put themselves and their properties in the crosshairs of the mobile generation of renters. Could this be the beginning of a new wave of how property managers attract and interact with tenants? Let us know what you think by leaving a comment below.