Water damage is one of the most frequent and expensive property loss claims filed each year for commercial properties including office buildings, industrial complexes, retail outlets, mixed-use developments, and hotel properties. Unfortunately, over the past few years, water damage claims have increased in both frequency and severity. Water damage causes billions of dollars in financial losses across the real estate industry, and these claims can get extremely costly for businesses. Direct costs for cleanup, repairs, replacements, and mold remediation, as well as indirect costs, such as legal fees, delayed projects, or business interruptions, can wreak havoc on an organization’s profit and loss statement.
A major factor in how severe the water damage can get is the number of stories in a building. As the number of stories increase, severity increases. A water leak from a top floor in a high-rise building can flow down several stories undetected and cause extensive damage. This is happening more frequently and with extensive damage, and what’s more, the older and less-cared-for buildings can be subject to sudden and accidental water leaks due to exposed conditions going unnoticed.
Continue reading: https://www.facilitiesnet.com/buildingautomation/article/How-to-Use-Internet-of-Things-Technology-to-Prevent-Water-Damage--19391
A major factor in how severe the water damage can get is the number of stories in a building. As the number of stories increase, severity increases. A water leak from a top floor in a high-rise building can flow down several stories undetected and cause extensive damage. This is happening more frequently and with extensive damage, and what’s more, the older and less-cared-for buildings can be subject to sudden and accidental water leaks due to exposed conditions going unnoticed.
Continue reading: https://www.facilitiesnet.com/buildingautomation/article/How-to-Use-Internet-of-Things-Technology-to-Prevent-Water-Damage--19391
