Tribe Property Technologies Inc has announced a tie-up with smart water metering firm Eddy Solutions, which will see the latter's products used in Tribe's digital property portfolio.
Property tech group Tribe manages around 40,000 homes made up of over 100,000 residents and has relationships with more than 50 real estate developers across Canada.
"By combining behavioral learning, real-time alerts and a comprehensive dashboard, Eddy Solutions offers greater control and transparency on consumption, risk mitigation and preventative maintenance options to our portfolio of new construction buildings as well as our existing communities," said Tribe CEO Joseph Nakhla in a statement.
"Water claims are one of the biggest damage risks and leading cause of rework and claims during construction, with approximately $6 billion paid out in water damage claims annually across Canada," he added.
READ: Tribe Property Technologies partners with credit risk management firm Pensio Global to deliver unique products for both landlords and tenants
Eddy's CEO Travis Allen added: "Tribe offers a leading condo-living platform that has become a household name for many property developers and condo boards. We look forward to partnering with them as their tech-enabled solutions continue to transform residential community living."
Tribe aims to buy highly accretive targets in the fragmented North American property management industry and transform them via digitization.
Its platform decreases customer acquisition costs, increases retention, and allows for the addition of value-added products and services.
Tribe's three revenue pillars are made up of software and service (recurring licensing and management fees), transactional (rent or condo fees, banking services, lease-ups), and digital services and partnership (smart building products, financial and insurance service) revenue.
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