Multi-Family Protection System helps safeguard your portfolio from millions of dollars’ worth of damage due to water negligence, defective water systems, fire incidents and more.
This essential alert system immediately notifies of potential risk the moment an incident is detected, I.E. (water or smoke leak, forced entry and more), displaying the event and its procedure for resolving the issue. Software based, the system will immediately notify via email, SMS and smartphones app all concerned parties I.E (maintenance team, property managers, headquarters, owners and more).
In addition, this state-of-the-art system is IoT (Internet of Things) ready and it can be scaled to include other modules for a more efficient operation such as building management security-electrical, smart temperature control, intrusion alert module, and more.
Based on the Insurance Information Institute and Verisk Analytics Business, from 2013-2017, homeowners’ insurance losses by fire and lighting represent 28.5% of all claims and water damage and freezing claims are 27.1% only third to wind and hail which are not man-made damaging events, these represent important losses that may affect ever increasing premiums, furthermore, renters’ insurance have also declined in the recent years potentially exposing landlords and property owners to even more repair costs.
Moreover, an average cost of water damage in a single unit may present itself as the following, flooded unit 1-4 inches of water $7,800.00, bathroom fixtures $10,799.00, faulty plumbing $17,250.00, in addition to the possibility to deal with water heater damage, washing machine leaks, appliance leaks that may result in additional damages north of $22,068.00 per unit, these distressful numbers become even more important when added the cost of disruption to tenants, business interruption and the cost for recovery and remediation.
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