Melbourne has consistently been voted most livable city in the world over the last decade. With its bustling arts scene and its thriving business hubs, it’s easy to see why so many people enjoy Melbourne’s diversity and why others are flocking to join them. 

 

While relocating can be an exciting change, finding the right property to rent in Melbourne can be a bit of a struggle. Luckily, with a bit of planning and know-how, you can get around those tricky spots to discover that, despite the difficulty, it’s definitely worth the effort to rent in Melbourne.

 

There are a lot of new buyers wanting to live in the city. This growing demand has resulted in an increase in residential property prices, making it much more challenging to find affordable places for rent. 

 

With more potential buyers in the Melbourne property market, competition at viewings can be fierce. And multiple people seeking out suitable rental homes reduces your chances of successfully securing one for yourself.

 

Despite the highly competitive market, renting in Melbourne is still possible with plenty of amazing rental properties to snap up. All it takes is an understanding of the city and its surroundings and a little rental strategy know-how to help you secure a rental in arguably Australia’s hottest property market.   

Reasons why you should move to Melbourne 

 

From tantalising multicultural cuisines to captivating arts, entertainment and sporting arenas, Melbourne offers everyone a welcoming urban living experience. 

 

Here are some of the things you can expect to enjoy when you move to our city: 

 

• Quality education. International and regional students can enroll in renowned universities like Melbourne University, La Trobe and RMIT with a host of others specialising in multiple disciplines. With student-friendly housing options surrounding campuses and nearby suburbs, renting in Melbourne as a student is an easy A. 
• World-class hospitals. There are multiple hospitals in and around Melbourne with specialised healthcare in both the public and private sectors.  
• Employment opportunities. Melbourne is a growing hub of development for a plenitude of industries, allowing you to jumpstart or build your career in your own field of expertise. 
• Good public transport (mostly). Melbourne offers different modes of transportation for locals including trains, buses, and trams. By using your myki card, you can travel to where you need to go easily.  
• Close holiday destinations. Locations like Daylesford, Mornington, and the Surf Coast are not too far away and easy to get to by  car, train, or bus. Tour buses also frequent the Great Ocean Road and Phillip Island, which are easy getaways by car. 
• Safer surroundings. Melbourne is  listed in the top ten safest cities in the world. In addition to this, most  neighbourhoods in Melbourne  have incredibly low crime rates, including Seddon, Yarraville, and Footscray. 

 

And infrastructure is only set to increase. Currently, there are more than  five million people living in Melbourne with the projected population growth expected to hit almost six million by 2030. This further proves that more people are seeing opportunities and experiencing everything Victoria’s capital has to offer.   

5 tips to follow if you want to rent in Melbourne 

 

While getting settled into a property for rent in Melbourne can be tricky given this highly competitive market, it is possible with some planning. Being prepared can help you get your application in ahead of others browsing with you and show a real estate agent or landlord how committed, eager and reliable you are.

 

Here are five tips to follow to help improve your chances of finding the property you want to rent in Melbourne. 

1. Make sure your documentation is complete

 

Just like with any major purchase or investment, documents are required to secure a rental agreement for a residential property. Some of these take time to gather so getting them done ahead of attending an open house will mean you get a running start. You’ll be days ahead of other applicants who pick up a form at the door.

 

Please note that while application requirements are similar across rental agencies, they are not identical, so be sure to download the forms you need, read them through carefully and tick off the boxes of required information for the listed properties you are interested in.

 

In general, you can expect to prepare the following: 

 

• Identification – You must present your passport or driver’s license, proof of residence in the country, birth certificate, medical insurance documents, and proof of employment. Get colour photocopies of the front and back of your licence.
• Character references – The names and contact details of individuals that can vouch for your character as a tenant or payee. Ideal references include your current employer or your former landlord. Be sure to let your referral know you have listed them.
• Rental ledger (with accompanying rent receipts from the last property you stayed in) – This is a file that contains the list of places you’ve rented in the past. It should also include receipts, like water or utility bills, from your most recent place of residence to assure the property owner of your credibility to pay as a potential tenant.   
• Bank statements or payslips – These documents inform property owners of your source of income and lets them know that you have the capacity to pay the monthly rental fees. 

 

Be sure to make copies of everything and attach the copies to your application form. You don’t want to be giving away originals as you may need them for another application.

 

Having all of these documents on hand during rental negotiations can speed up the transaction process and allow you to sign the rental agreement in less time (and before others). 

1. Have your application ready to submit right away

 

Now that you have prepared all the required documents, take them with you when you go to the open house.

 

Most real estate agents won’t let you apply for a property until you have first walked through it, so while you can’t send in your application ahead of time, you can download it from the agent’s website and gather everything you need before your visit.

 

Handing in your application along with your required documentation not only gets you in well ahead of the others, it also leaves a good impression on the property owner, a.k.a. your future landlord. It shows that you have initiative and are responsible and organised, which are traits that many property owners appreciate in tenants.

 

You can also give a memorable first impression by sharing a bit about yourself in your application papers. It doesn’t have to be long, but having a short description about you and why you want to rent their property can make you stand out from other applicants.  

1. Attend viewings and introduce yourself 

 

Making yourself visible and introducing yourself to the real estate agent or property owner during open houses may not seem like much, but that’s all it takes to make a good impression. Good first impressions always stick and being memorable might just help you score the property.

 

Be sure to look around before you hand in your application to them, so they know this is something you have given serious thought to. 

 

To make yourself more visible and stand out from the crowd, here are some additional suggestions: 

 

• Express interest. Asking questions about the property is highly encouraged. This lets you clarify the terms of your rental contract (i.e. lease duration, dates for rental payments, etc.) and shows property owners that you’re serious about renting. 
• Show gratitude. Thank the property owner or real estate agent for their time and effort in processing your application. You can do this when you hand in your application, or in a follow up text message or email. 
• Request a private viewing. This not only gives you the opportunity to look at a property before everyone else, but it also allows you to build a rapport with the property owner, especially since this is a one-on-one meeting. This works best for properties that are already vacant.
• If you are looking to rent in Melbourne and you don’t currently live there you can still build rapport in a phone call with the agent where you ask questions about the property and explain what you are looking for. They may be able to do a virtual open for you to see the property, even from afar.

 

Every little detail counts and can make you a favourable candidate in the eyes of the property owner. 

1. Make a list of what you want in a rental property

 

After looking through multiple residential properties, you may find yourself overwhelmed about which properties to apply for. 

 

To narrow down your choices, it helps to make a list of critical factors you want to have included.

Some things to consider as you look at rental properties include: 

 

• Location 
• Price
• Number of rooms
• Distance and ease of travel from work
• Property condition
• Accessibility to public transport 
• Safety and security
• Dates the property becomes available

 

These factors can cut down your prospects for rental properties and help you decide on which will actually suit your needs. It will strengthen your application as you can be confident of a long-term lease being right for you, which is also the best outcome from the landlord. 

1. Find out when the market is least competitive (and strike then)

If you’re keen to avoid the white-hot market for residential properties in Melbourne, assess when it’s in its least competitive state and look for a property then.

 

Normally, peak season for residential properties is from January to February and July to August, so consider looking for properties to rent in the months outside of these brackets. 

 

These low peak times give you a better chance of renting property in Melbourne for a lower price and will relieve some of the pressure of going through opens with crowds of other people. 

 

Securing a great rental property in Melbourne can be challenging, firstly because there are so many options to choose from, and also because there are lots of people to compete with. With some planning and organisation you can pinpoint your needs to focus on the Melbourne property you really want, then have the paperwork and documents ready in advance to get your application to the top of the pile. 

 

If you are looking at renting property in Melbourne either now or in the future, please  give us a call, we’d be happy to assist you in finding what you are looking for.