NEW YORK, NY From rent fraud to tenant safety and resident amenities, OWAL, a two year old proptech company, has further expanded its coverage to owners and managers of commercial and residential properties in major urban markets. Using a cloud-based platform that enriches surveillance video and identifies anomalous activities, OWAL is able to send configurable alerts to building managers and designated security personnel in real time. Its software may be used with existing camera systems, offering significant savings to property owners and managers.
“Current video security solutions require large amounts of time to manage or money to upgrade,” said Chaim Fried, founder & CEO of OWAL. “By analyzing what was missing in the video security space, we were able to design solutions offering greater efficiencies. Typically, a front desk person is responding to residents and, therefore, missing activity as it occurs on multiple video streams. Our video platform analyzes images in real time, identifies irregular activity, and instantly alerts designated personnel who can then determine a course of action without constant monitoring.”
Although video hardware is constantly being improved, OWAL’s proprietary software is compatible with older systems, allowing property managers to modernize their security without expensive hardware upgrades. In addition to helping identify common building issues such as illegal sublets or smoking in hallways, it can identify an accident, such as someone who has fallen in a stairwell. The platform can also pinpoint a robbery in progress with clear, concise images that may be instantly shared with law enforcement. Its advantage is that the platform simultaneously provides potential life-saving, crime deterring, and nuisance solving functions.
Vince Traylor, OWAL’s director of partnerships, said, “There is a tremendous value proposition with our platform because we are able to use existing equipment, which may be upgraded incrementally for better picture and detection quality, without the fuss of reconfiguring entire systems. Our turnkey software solution makes it easy for building managers of all sizes and industry to employ cost-effective, cutting-edge Machine Learning video analysis.”
For residential properties, OWAL has introduced a mobile amenities app tailored to a building’s individual criteria. Using the app, residents are able to see when specific equipment is available in a fitness center, such as a treadmill or free weights. It can be programmed to show when a club room, on-site conference area, and screening room are free, or even when specific washers and dryers are not in use in a resident laundry room.
Originally introduced as a proptech tool that was later applied to operators in the senior housing market, OWAL’s unique cloud-based platform and sophisticated analytics are already being embraced by several high profile NYC property owners.