If your home has water issues, Roost might have a solution.

The company this week announced(Opens in a new window) the Roost Smart Water and Freeze Detector, a small device that communicates with a smartphone and alerts users when home issues are about to occur, including water damage, frozen pipes, and mold, among others.

“As a homeowner or renter you may have experienced the all-too-common water leak or frozen pipe situation,” Roost said in a statement. “The Smart Water and Freeze Detector will enable you to receive an early warning notification of a water leak situation or even when the basement temperature near your pipes reaches 36 degrees … well before they freeze or potentially burst.”

The device connects to the Roost smartphone app and can be installed on pipes, in high-humidity rooms, and other areas where water or freeze damage might occur. It’s capable of determining when water damage might occur, as well as when a pipe is about to freeze, mildew could build up because of high humidity, and even when there are gaps in home seals.

The alarm itself is powered by AAA batteries that the company says will last more than three years.

Roost came on the scene last year with the Roost Smart Battery ($39.99 at Amazon)(Opens in a new window) . That device was able to transform existing carbon monoxide alarms into smart alarms that could communicate with its app. Last month, Roost also unveiled smart smoke alarms to compete with the likes of Google’s Nest, which has a similar solution.

“Our goal with this product is to help save US consumers and insurance companies a part of the $8 billion dollars per year in potential water losses and claims paid,” the company said in a statement. “That’s quite a chunk of change.”

The Roost Smart Water and Freeze Detector will be available this fall for $50. The company plans to share more details on the device at some point in the future.