VIVAWEST owns more than 120,000 apartments in the province of North Rhine-Westphalia. Roughly 8% of tenants cancel their contracts every year. Reducing that number just a little would have a tremendous monetary impact, but could also substantially improve the satisfaction of thousands of tenants.
Our goal is to spot tenants who are about to cancel their contracts. In a next step, these tenants could then be contacted to see if a resolution to their problem can be found. A variety of sources influences tenants’ decision, e.g. changes in the neighbourhood, rent increases, damages in the house/apartment or mistakes in the statement of utility costs. Additionally, tenants might be sending signals before they give up and cancel, e.g. they might inquire about the cancelation policy or complain about problems.
This data has not been analysed yet since different data sources need to be combined and the influence of each factor is uncertain. As of now this is done by experts and their individual experience. We would like to develop a system that gives a prognosis of how likely a tenant is to leave within the next six months.
A project duration of approximately 2 months is expected.
The project can be divided into three milestones: