Leak Monitoring Partnership Targets Rising Association Costs
Property managers and associations facing steep insurance increases can now access automated water-leak detection through the partnership.
Updated on Nov. 3, 2026 in Construction
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Eddy Solutions has signed a master services agreement with FirstService Residential to bring monitored water detection to residential communities, effective January 7, 2026. Eddy already monitors 30 FirstService Residential-managed communities, and the partnership targets associations facing rising property costs.
Why it matters
Association budgets are absorbing rapid increases in insurance costs, and master policies can exclude some water damage unless endorsements are added. Monitored leak detection is positioned as a way to reduce both losses and premium exposure for property managers and their boards.
Eddy reports 145,127 in-building devices installed as of June 30, 2026, about 20% more than the 120,804 recorded a year earlier, and monitors 30 FirstService Residential communities. Industry data cited in the announcement shows property insurance premiums rose 70% between 2019 and 2025, and 82% of association members saw fees increase over the past three years.
The players
Eddy Solutions
Eddy Solutions is a water-monitoring company whose wireless sensors and automated shutoff systems serve multi-unit residential buildings, with over 145,000 installed in-building devices.
FirstService Residential
FirstService Residential is a property management company operating residential communities across the United States and Canada, headquartered in Toronto.
The details
Eddy's wireless 3-in-1 sensors monitor for water, temperature, and humidity at high-risk points within buildings. Alerts go out by text and email, and automated shutoff valves can respond to configured thresholds. Eddy's monitoring service can follow up with designated building contacts and document each event through a Leak Incident Report, creating a record that can support insurance claims.
Timeline
January 7, 2026: Eddy and FirstService Residential signed the master services agreement.
June 30, 2025: Eddy had 120,804 in-building devices installed.
June 30, 2026: Eddy had 145,127 in-building devices installed.
November 3, 2026: The partnership was announced via GlobeNewswire.
Market Landscape
The partnership responds to the 70% property insurance premium increase between 2019 and 2025 documented by ICE Mortgage Technology. Verisk's finding that interior water damage claim severity rose 8% from 2019 to 2023 shows that claim costs are also climbing, which makes detection-based loss reduction a competitive category in association property management.
Associations and property managers should factor insurance-cost pressure and fee increases into near-term budgets, since 82% of association members have already seen fees rise. Those evaluating water-detection programs should review how their master policies treat water damage and whether endorsements are needed.
The takeaway
Operators managing residential buildings should treat documented water-loss data as a line item to track against premium changes over the coming year. Reviewing master policy exclusions for water damage with qualified insurance counsel or a broker is a practical step before committing to any monitoring program.
Further reading
Explore more Construction coverage for context on how building systems and property costs are changing.
Source note: This article includes information reported by The Manila times.
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