May, 6th 2025 – iApartments Inc., a leading smart technology platform powering multifamily, student housing, and Build-to-Rent (BTR) communities, today announces the industry's first fully integrated smart fire prevention system through a strategic partnership with FireAvert. This groundbreaking integration comes as multifamily owners nationwide struggle with insurance premium increases of 25-40% in the past year alone.

The new system automatically detects and prevents stove fires—the number one cause of residential fires—by cutting power or gas to the stove before the fire starts, while simultaneously alerting both residents and property management teams in real-time through the iApartments platform. iApartments' enterprise-grade IoT infrastructure and centralized management console enables property managers to gain access to portfolio-wide analytics, intelligent alerts, and automated incident reporting—features not available in consumer-grade smart home solutions. By adding the automation of smoke detection and fire prevention to iApartments' industry-leading leak detection, multifamily developers and owners can not only bolster safety precautions for residents and guard against the leading causes of property damage, but also leverage advanced insurtech analytics to optimize risk profiles, potentially reducing insurance premiums and driving substantial cost savings.

"With insurance premiums rising three times faster than rent growth in many markets, our clients are demanding solutions that directly impact their bottom line," said Dave Magrisso, CEO of iApartments. "This partnership delivers immediate ROI through reduced property damage, potential insurance premium savings, and enhanced resident safety—addressing the three most critical concerns we hear from owners today. It’s this client focus and our relentless pursuit of leading-edge technology and innovative integrations positions iApartments as the premier solution for protecting our client’s assets, enhancing resident safety, and driving a high ROI for our owner clients."

Learn more about iApartments + FireAvert

Early data indicates the technology could reduce fire-related insurance claims by up to 30%, potentially offsetting recent premium increases for participating properties. 

Peter Thorpe, CEO of FireAvert, added: "By integrating our patented technology directly into the iApartments platform, we're creating the most comprehensive fire prevention system ever deployed at scale in multifamily housing. This isn't just about preventing fires—it's about fundamentally changing how risk is managed in these communities."

 Key Industry Impact

• Cooking Fires are the Leading Cause of Home Fires
  Nearly 170,000 stove fires occur annually in the U.S., with multifamily properties facing disproportionate risk
• Restoration Cost is Just the Beginning
  Average kitchen fire restoration costs range from $2,500 to $50,000, not including resident displacement costs, reputation damage, and increased liability exposure
• Insurance Premiums are Soaring
  Multifamily insurance premiums have increased by 25-40% in the past year, with high-claim properties experiencing even steeper rate hikes

A Game Changer for Asset Preservation in Multifamily

The integration of FireAvert’s patented fire detection technology into a smart home platform is a game changer for the broader multifamily industry, significantly expanding iApartments’ robust suite of asset preservation solutions. FireAvert is available for all iApartments-enabled communities nationwide and can be retrofitted into existing properties or integrated during new construction.