Condo Board Members: How Leak Protection Protects Your Building and Residents

Condo Boards - protection against water damage with leak detection
Share
LinkedIn
Facebook
Twitter
Email

As a Condo Board member, your primary focus is making the best decisions for your building and its residents. Have you considered the significant risk water damage poses to your property?

Water damage now accounts for over 70% of real estate claims by dollar value (Source: Zurich Insurance Group). This means Condo Boards need to take proactive steps to protect their assets. Water damage can come from many sources, like burst pipes or appliance failures, and can lead to major issues.

When water damage occurs, it often results in resident displacement, which is challenging. Families may have to leave their homes during repairs, and their property might be damaged beyond repair. Residents could also face paying their own insurance deductibles for damage they didn’t cause. Repairing water damage often requires tapping into common funds, potentially leading to higher costs for residents in the future.

For the building itself, water damage destroys mechanical equipment and finishes, lowering the overall value. While insurance covers many repair costs, premiums can increase, and some Condo Boards might even struggle to get future coverage.

The good news? Water damage is a preventable issue. IoT-powered water monitoring and leak detection technology, including sensors and shutoffs, can track water usage and alert property management to issues in real-time.

How Eddy Helps

Eddy’s solution offers comprehensive water monitoring and leak detection, protecting residents and building assets, and significantly reducing the risk of water damage.

Our suite of products and services equips property managers with the tools and data needed to both address immediate water damage risks and prevent future incidents. Here’s how:

  • Eddy IQ Ultrasonic Water Meter: This device features a high-resolution water meter and a built-in full port ball valve for automatic and remote shutoff.
  • Wireless H2O Sensors: These sensors track humidity, temperature, and the presence of water.
  • Eddy Link Device: This interfaces with existing meters to track water consumption and can be pairedwith a shutoff valve for large pipes.
  • LoRaWAN Buidling Network: We use this low power, low bandwidth radio network to establish a reliable full building communication network so you can receive text/SMS/Call Center notifications as well as dashboard access.
  • 24/7 Live Monitoring Center: Our dedicated center ensures immediate issue resolution, providing round-the-clock support.

Eddy Dashboard offers real-time aggregate and individual data, allowing Condo Boards and Property Management to focus on relevant metrics, such as:

  • Water consumption
  • Risk mitigation
  • Asset risk insights
  • Preventative maintenance activities
  • Resolution times for incidents

What We Protect

  • Water Main and PRV Stations: Automatic and remote shutoff valves
  • Hydronic Heating & Cooling Systems: Equipped with automatic shutoff valves
  • Common Areas, Amenities, and Mechanical Rooms: Secured with sensors and shutoff valves
  • Domestic Distribution Risers: Sensors detect water presence and temperature and humidity fluctuations
  • Domestic Zone Water Shut Off: Shut down the sections of the property in the event of an emergency
  • HVAC Riser Sensors: insight into the presence of water leaks at HVAC risers that pass through suites
  • Unit Smart Sub-Metering: This provides you a dual function solution to provide metering data for your submeter vendor billing, as well as unit level leak detection & isolation
  • In-Suite Protection: Comprehensive coverage with sensors placed near at-risk appliances like washing machines, dishwashers, and water heaters

FAQs

Q: How difficult is the installation process? A: Eddy’s system is designed for seamless integration with minimal disruption to your building’s operations.

Q: What kind of support does Eddy provide? A: Our 24/7 monitoring center is always on hand to assist with any issues that arise, ensuring immediate resolution.

Seamless Handoff from Developers to Condo Boards

Eddy Solutions works seamlessly from the construction phase to full operational status. During construction, developers and builders can install Eddy’s comprehensive water management system, ensuring the building is protected from day one. When it’s time to hand off the building to the Condo Board, here’s how the transition works:

  1. Training and Onboarding: Eddy provides thorough training sessions for Condo Board members and property management teams. This ensures everyone understands how to use the system and can access all its features.
  2. Dedicated Support: Our support team assists with the handoff, addressing any questions and ensuring a smooth transition.
  3. System Documentation: We provide detailed documentation and user guides to help new users get acquainted with the system quickly.
  4. Continued Monitoring: The 24/7 monitoring center continues to watch over the building, providing ongoing support and ensuring any issues are promptly addressed.
  5. Dedicated Customer Success Team: Eddy’s technical experts will help the system stay up-to-date with the latest technology and improvements, making sure the building continues to enjoy the best protection available.

Take Action Today

To learn more about how Eddy can help your Condo Board take control of water management, contact us today. Your building and residents deserve the best protection.

Related Content

Unlock Effective Leak Detection — Join us on July 25 @ 3pm EST

We Stop Leaks for Buildings Like Yours

Sign up here to receive insights, tips, and updates from leak mitigation experts.