If you are a property manager for a multi-family complex, then it is important to have water leak detectors installed in order to protect your investment.
Water damage can be very costly to repair, and it is much easier to prevent damage from happening in the first place. By installing water leak detectors in common areas and individual units, you can help protect your residents and their belongings from water damage.
In this blog post, we will discuss the importance of water leak detectors and recommend some of the best models on the market.
What do water leak detectors do?
Leak detectors are a great loss prevention technology that helps you catch problems before they occur. By installing a leak detector in your home, you can be alerted to problems before they cause serious damage.
There are many different types of water leak detectors on the market, and choosing one that is right for your needs is important. We have compiled a list of the best water leak detectors, so you can make an informed decision.
At Perceptive Things®, we recommend using the Droplet Duo™ or Droplet Pro™ to detect leaks in multi-family properties. We like to say that our detectors help you "perceive your building in a new way" because you gain real-time insights whenever there is an issue!
Watch the video below to see how our leak sensors work:
Why use a water leak detector for multi-family properties?
You’ll find many reasons why water leak detectors are excellent additions to multi-family properties. As a preventative tool, they save you money in several ways.
The four reasons why you should use a water leak detector for your multi-family are:
Save on repairs
Reduce insurance costs
Avoid mold and other health risks
Increase tenant satisfaction
As you can see, there are plenty of reasons why installing leak detectors are important! On average, 14,000 properties each day experience water damage. Detecting leaks quickly can mean that maintenance can be as simple as a quick visit from a plumber.
With the national average cost for water damage restoration at $3,292 (and severe leaks often much higher), these systems can save significant money. If you own multi-family properties, leak detection technology can represent an important investment.
Save on repairs
Perhaps the most notable benefit is the savings on repairs. Even a small leak can discharge dozens of gallons of water a day.
Since most leaks occur behind walls or under floors, they often go undetected for a long time. During this time, damage can spread significantly. Water damage restoration can involve repairing or replacing drywall, appliances, cabinets, electrical, and many other issues.
Water leaks are incredibly common! Detecting water damage early prevents costly repairs which often cost owners thousands of dollars. Particularly severe damage can cost tens of thousands of dollars. Detecting leaks early means you can have them repaired before damage accumulates.
Reduce insurance costs
Installing a water leak sensor system not only gives you and your tenants peace of mind but can do the same for your insurance company. Leak sensor technology can decrease insurance costs by earning you a discount on your premium or reducing your deductible.
Water damage claims are particularly costly to the insurance industry, representing 35% of all claims. In fact, these claims are increasing in number and in size, costing insurance companies $13 billion annually.
Avoid mold and other health risks
Mold is perhaps the one word that no one wants to hear when it comes to their property. However, water leaks can allow mold to grow in as little as 24 hours! This is because water-filled environments are perfect conditions for mold.
Preventing mold growth requires fixing problems with moisture as soon as possible. Installing a leak sensor system is by far the best way to quickly detect a problem, allowing you to respond before mold growth begins.
Increase tenant satisfaction
And as a final bonus, your tenants will be pleased to know that you are taking steps to protect their property and will want to stay at in your building longer!
Water leaks can negatively impact tenants in a number of ways. Undetected leaks can lead to the development of health problems, temporary relocation, and loss of cherished possessions. Any of these issues might lead people to decide to find a new place to live, hurting your revenue stream.
In multi-family buildings, water leaks can even affect multiple units. Detecting and addressing leaks quickly can keep tenants happy while saving you from dealing with logistical and financial situations.
Final thoughts on water leak detectors for multi-family properties
Water leak detectors are an important part of any multi-family property management plan. By choosing the right model and using it properly, you can help protect your investment and provide a better experience for your residents.
If you are interested in learning more about how you can set up a leak sensor system, be sure to check out our products or reach out to us at contact@perceptivethings.com.
Has your multi-family property dealt with a water leak before? How much did it cost you to fix the damage? We'd learn about your experience in the comments section!