Eddy Solutions Partners with FirstService Residential for Water Detection Solutions

TORONTO, Nov. 03, 2026 /CourierPR/ -- Eddy Solutions, a water leak detection company serving commercial, multi-family buildings, construction sites, hotels and resorts, data centers, and health care facilities across Canada and the United States, has partnered with FirstService Residential, North America’s leading residential property management company. The companies entered into a master services agreement on January 7, 2026, to bring monitored water detection solutions to FirstService Residential-managed communities in the United States and Canada.

Through this partnership, Eddy Solutions will provide water detection solutions designed for condominiums and high-rises. These solutions include Eddy's wireless 3-in-1 sensors, which monitor for water, temperature, and humidity at high-risk points such as domestic water risers, heat exchangers, and leak-prone appliances. The sensors can provide real-time alerts when water is detected, including identifying the location of the event. The system sends alerts by text and email, while automated shutoff valves can respond to configured thresholds. Eddy's monitoring service can also follow up with designated building contacts to assist with response and document events through a Leak Incident Report.

As of June 30, 2026, Eddy Solutions had 145,127 in-building devices installed across its operations, representing an approximately 20% increase from 120,804 devices as of June 30, 2025. The partnership arrives as association budgets absorb rapid increases in insurance costs. According to ICE Mortgage Technology, property insurance premiums rose 70% between 2019 and 2025. LendingTree reports that 82% of association members saw their fees rise over the past three years, with 44% describing the increases as significant. Boards control few of those inputs at renewal. Loss prevention is one they can control, considering that association master policies can exclude some water damage sources unless endorsements are added.

Water damage remains one of the most frequent and costly property losses in residential communities, especially high-rises. In Eddy's 2026 State of Water Risk Report, 65% of leaks in multi-unit residential buildings started after business hours, with 2 AM identified as the single busiest hour for major leaks, the ones with the most destructive potential. Interior water damage claim severity rose 8% between 2019 and 2023, according to Verisk, and boards are feeling the impact at renewal through rising premiums and water deductibles.

The partnership with FirstService Residential is expected to provide a proactive way to identify issues early, reduce disruption for residents, and help protect long-term property value. This offering reflects FirstService Residential's commitment to smarter risk management and stronger outcomes for the communities they serve. Premium savings of up to 20% have been documented across operator portfolios using managed water protection, while deductible reductions of up to 80% have been documented at individual properties. Every monitored event can generate documentation that a broker can present to an underwriter as part of the program.