Here’s the fun answer: Pursuing both options would be best, but it will take a lot more resources to do it right.
Nationwide property management groups often have their own corporate site (ParentCompany.com) with pages for the properties they manage (ParentCompany.com/Property1) as well as a website for each individual community (Property1.com).
If you pursue this strategy, the page on the parent company site should just be a quick landing page. The property site should have all the details (floor plans, amenities, etc). They would use the parent site to link out to each of the properties, and link all of those properties together as “sister communities.”
Ranking/advertising multiple sites will cost a lot more than a single site. These are mid-large sized corporations running businesses like these.