New capability helps eliminate the problem of “squatters” for owner-operators of real estate portfolios without compromising privacy.
Bethesda, MD – August 31, 2023 – Dwellwell Analytics, the first Check Engine Light for Homes™, today announced its new security monitoring feature, designed to help real estate owner-operators in their fight against “squatters” (i.e., unauthorized occupants in residential rental properties).
According to TransUnion SmartMove® data, eviction-related expenses — which include maintenance fees, lost rent, court costs, filing costs, and judgment costs — can reach as high as $10,000.
“Many of our customers struggle to prevent or detect squatters, and the current solutions have proved ineffective or costly. With our advanced sensing and AI technology, we were uniquely positioned to create something more effective for the marketplace,” noted Dan Simpkins, Dwellwell Analytics’ CEO and Co-Founder.
The feature uses a collection of sensor data and neural AI to determine if a property is being occupied or utilized. In addition, the new capability adds a layer of privacy and security by not using more traditional means to detect human presence, such as video or voice recognition.
“With distributed and understaffed teams, residential real estate investors are struggling to monitor the status of their properties, especially if they’re scattered. This includes knowing if residents have abandoned their home without paying rent, if vacationers are staying longer than they should in a short-term rental, or even if contractors have visited the property as scheduled. With Dwellwell, our customers can see everything they need to know about their property portfolio on one dashboard,” added Simpkins.
Dwellwell is the first comprehensive Check Engine Light for Homes™. The powerful technology diagnoses and alerts residential property owners and managers to irregularities in the performance of an entire residential building, including HVAC, electrical, plumbing, and even environmental concerns. The SaaS platform provides early detection of issues before they lead to system failure or devolve to catastrophic faults. Built by a team of seasoned tech entrepreneurs, Dwellwell proactively diagnoses issues across an entire building, helping large-scale single-family rental and multifamily owners streamline maintenance, generate cost savings, retain teams, and elevate resident and guest experiences.