Eddy Solutions partners with FirstService Residential to bring water detection solutions to residential communities
TORONTO, Nov. 03, 2026 (GLOBE NEWSWIRE) -- Eddy Smart Home Solutions Ltd. (TSXV: EDY) ( "Eddy " or the "Company ") is 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. Eddy combines smart water sensors, automatic shutoff valves and a 24/7 monitoring center in one managed program, used by leading insurers, asset managers, and property owners across more than 145,000 devices.
Eddy has partnered with FirstService Residential, North America’s leading residential property management company, to bring monitored water detection solutions to FirstService Residential-managed communities in the United States and Canada. The companies entered into a master services agreement on January 7, 2026. Eddy currently monitors 30 of these communities.
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.
Through the partnership, boards and property managers in FirstService communities have access to water detection solutions designed for condominiums and high-rises. This includes 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. Together, these capabilities are designed to provide a coordinated response to water events rather than simply an alert.
As of June 30, 2026, Eddy had 145,127 in-building devices installed across its operations, representing an approximately 20% increase from 120,804 devices as of June 30, 2025.
“Property managers are the first call when a building floods at 2 AM, and the last to get credit when nothing floods at all,” said Cory Silver, President of Eddy Solutions. “Partnering with FirstService Residential puts monitored water protection in front of communities that invest heavily in preventative maintenance, with the documentation their boards and managers need to see the results.”
"Water detection solutions provide a proactive way to identify issues early, reduce disruption for residents, and help protect long-term property value. This offering reflects our commitment to smarter risk management and stronger outcomes for the communities we serve, " said Andrew Lester, President of FirstService Financial.
Monitored buildings are increasingly being evaluated differently at insurance renewal. 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.
About Eddy Solutions
Eddy Smart Home Solutions Ltd. (TSXV: EDY) is a North American provider and developer of smart water metering products and monitoring services for commercial and multi-family residential properties. Eddy 's solutions help property owners and developers protect, control and conserve water usage through sensing devices and behavioral learning software. As of June 30, 2026, Eddy had 145,127 in-building devices installed. For more information, visit www.eddysolutions.com.
For further details on the Company’s financial performance, please review the Company’s unaudited condensed consolidated interim financial statements and management’s discussion and analysis for the three and six months ended June 30, 2026, and 2025, available on Eddy’s SEDAR+ profile at www.sedarplus.ca.
About FirstService Residential
FirstService Residential is simplifying property management. Its hospitality-minded teams serve residential communities across the United States and Canada. The organization partners with boards, owners, and developers to enhance the value of every property and the life of every resident.
Leveraging unique expertise and scale, FirstService serves its clients with proven solutions and a service-first philosophy. Residents can count on 24/7 customer care and tailored lifestyle programming, amenity activation, and technology for their community’s specific needs. Market-leading programs with FirstService Financial, FirstService Energy, and special districts teams deliver additional levels of support.
Boards and developers select FirstService Residential to support their vision and drive positive change in the communities in their trusted care.
FirstService Residential is a subsidiary of FirstService Corporation (NASDAQ and TSX: FSV), a North American leader in providing essential property services to a wide range of residential and commercial clients.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. These statements reflect management 's current expectations and are based on assumptions and estimates that involve risks and uncertainties. Actual results may differ materially from those anticipated in the forward-looking statements. Factors that could cause actual results to differ are discussed in the Company 's most recent management 's discussion and analysis under “Risks and Uncertainties,” available on the Company 's SEDAR+ profile. Eddy undertakes no obligation to update these statements, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Cory Silver
President
Tel: 416.902.8778
Email: csilver@eddysolutions.com
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