The apartment industry is entering a new era. Operators in markets across the country are weighing the pros and cons of smart home technology, as well as evaluating the best ways to establish a smart operations/buildings platform.

They’re asking if they should install doorbell cameras and smart locks. Should they offer smart thermostats and lighting? How can they take this technology even further to become a smart building to help further improve operations and asset value?

Water leak detectors are an especially sound investment, particularly as operators move towards smart buildings and smart operations. Simply put, these tools can deliver the highest ROI of smart home devices and offer powerful protection from disaster.

By the Numbers
Water leak sensors may not seem “sexy” to residents, but apartment operators and managers should understand the protection they offer from the very real threat water damage poses to apartment homes.

For a sense of the risk, consider these sobering insurance statistics, compiled on the Water Damage Defense website:

• Damage from water and mold cost U.S. insurance companies $2.5 billion each year.
• 14,000 people in the U.S. experience a water damage emergency at home or at work each day. 
• Nearly 40 percent of U.S. homeowners claim to have suffered losses from water damage. 
• The average cost of a water damage insurance claim is $6,965. 
• In just one day, 250 gallons of water can leak from a 1/8-inch crack in a pipe. 

Apartment owners and operators can reduce their risk of water damage from undetected leaks by installing water sensors in their units.

These detectors can help prevent a nasty flood in a unit that will not only damage that home but the surrounding ones as well. Some of these devices also alert operators and residents when the temperature near pipes gets dangerously low to prevent the damage that results when pipes break. They also can prevent the damage and mold growth from slow but steady leaks. And they’re especially valuable when a unit is vacant and there’s not a resident there to notice accumulating water or the resulting damage.

Simply put, water sensors offer significant ROI by preventing the catastrophic damage caused by leaks and floods in apartment homes. They’re more than a wow factor amenity that attracts prospects – they’re a solution that protects asset value and allows owners, managers and residents to sleep at night.