Finding the right rental property in Melbourne can be exciting, and challenging, given the city’s diverse neighbourhoods and ever-changing real estate landscape. Whether you’re a newcomer to the vibrant metropolis or a local looking for a change of scenery, I hope this article helps you decide what to go for in Melbourne’s rental market.
Melbourne is known for its dynamic cultural scene, diverse communities, and thriving job market, offering various rental options to suit various preferences and lifestyles. From trendy urban apartments to family-friendly suburban homes, there’s a perfect rental property waiting for you in this cosmopolitan city.
Melbourne’s rental market stands as a highly competitive arena with a remarkably low vacancy rate of merely 1.2%. This scarcity of available properties signifies intense demand, fostering stiff competition among prospective renters. Additionally, rental prices have seen a consistent upward trend in recent years, reflecting the challenging landscape for tenants who are also grappling with elevated rental costs.
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What is a good salary to live in Melbourne?
As of 2023, a good salary to comfortably live in Melbourne typically falls within the range of $5,500 to $8,300 per month. This financial scope is considered sufficient to cover essential living expenses, as well as provide room for entertainment and recreational activities. With a salary within this range, individuals can navigate the cost of living in Melbourne with relative ease, ensuring a well-rounded and enjoyable lifestyle.
Can I negotiate my rent?
Tenants are advised to negotiate with their property agent and landlord in case of an excessive rent increase. Key strategies include gathering information on rental prices in the area, knowing the average rent increase in the suburb over the last year, seeking advice from local tenant’s unions, presenting a reliable rental ledger, and proposing a counter-offer based on gathered data. It is crucial to maintain a level-headed, polite, and impersonal approach during negotiations. Landlords may prefer a smaller increase rather than facing potential vacancy periods, so tenants should confidently assert their value. If financial hardship arises, tenants can consult tenant’s unions or solicitors for negotiations on temporary reductions. In cases of disagreement, tenants can escalate the matter to the local state or territory property tribunal for mediation, with the understanding that landlords are not obligated to renew leases, even if they lose the hearing.
RENTAL PROPERTIES IN MELBOURNE
Flatmates
This is Australia’s leading share accommodation platform, headquartered in Melbourne. The platform facilitates the listing of spare rooms, helping individuals find accommodation or form shared houses. Emphasizing the importance of a shared house as more than just a temporary space, Flatmates.com.au aims to offer advice, inspiration, insights, and know-how to enhance the shared living experience. As Australia’s largest share accommodation website, independently measured by Hitwise, the platform ensures genuine listings through constant moderation, up-to-date information, and secure data practices. Flatmates.com.au operates as an Australian business and prioritizes user privacy by avoiding spam and refraining from sharing member details with others.
Website: https://flatmates.com.au/
Tenant App
Tenant App is one of the solutions founded by Andrew Reece and Mike van Raders.
Andrew Reece, a seasoned professional with over 15 years in the Real Estate industry, is recognized for his passion, honesty, and practical strategies for profitable, organic growth. As a Certified Practising Accountant with a Bachelor of Business in Accounting, he played a pivotal role in bringing the RE/MAX franchise to Australia. Andrew’s journey continued with his partnership in prorentals.com.au, a property management company that grew from 30 to over 1,700 properties. His hands-on experiences and learning from mistakes inspired the creation of inspectrealestate.com.au, addressing the need for an efficient solution in lead management, inspection booking, and runs for Property Managers.
Mike van Raders, the CTO of InspectRealEstate, complements the team with a strong electronics engineering background and over 12 years of experience in developing property management software solutions, including prorentals.com.au’s online tenant inspection booking system. Together, Andrew Reece and Mike van Raders lead the technical development at InspectRealEstate, focusing on streamlining the property management process for professionals in the industry.
Website: https://www.tenantapp.com.au/Rentals/properties-in-melbourne-vic-3000
Rentola
Rentola is a user-paid aggregator focused on simplifying the housing search process for both tenants and landlords globally. With a vision to facilitate seamless connections between landlords and tenants, Rentola operates in over a dozen countries and is continually expanding. The platform aims to reach 50 million users worldwide by 2024, with a dedicated multi-international team spread across different continents. The company is committed to enhancing user experiences, employing a clever search engine for efficient property and tenant discovery. To explore the benefits firsthand, users are encouraged to sign up, with a responsive customer service team ready to assist with inquiries within 24 hours during the business week. Upgrade your rental industry experience with Rentola today.
Website: https://rentola.com.au/for-rent/melbourne
Harcourts
Ross-Hunt Real Estate
Their diverse listings cater to various preferences and lifestyles, offering apartments, houses, and townhouses for rent in Melbourne. Explore their current listings, ranging from compact studio apartments in Surrey Hills to spacious options with multiple bedrooms, ensuring a wide range of choices that align with your preferences. For those seeking houses for rent, consider their selection which provides ample space and generously sized outdoor areas. If you desire a blend of apartment living and the spaciousness of a house, explore their townhouses for rent, particularly popular among families. Regardless of your preferences, Ross-Hunt Real Estate offers a variety of Surrey Hills rentals and properties in surrounding areas.
Website: https://www.rosshunt.com.au/properties-for-rent/
Metropole Property Management
Choosing Metropole to manage your investment property means opting for a distinctive approach to property management services. As licensed estate agents who exclusively focus on leasing and managing residential properties across Melbourne, Sydney, and Brisbane, they stand out from the rest.
Their commitment extends to ensuring timely communications with their landlords, guaranteeing professional service by being readily available to address your needs and serving as your eyes and ears at your property. They prioritize prompt rental collection, daily arrears monitoring, and swift action, leveraging up-to-date systems, software, and IT technology to collect rent promptly and transfer it directly into your bank account. With Metropole, you can trust a different breed of licensed estate agents who are dedicated to helping you build wealth through unparalleled property management services.
Website: https://propertymanagement.metropole.com.au/rental-property-search-melbourne/
Jellis Craig
Navigating the numerous rental regulations in Victoria can be a challenging task, but their guide addresses some of the most commonly asked questions to ensure you are well informed and prepared for your move into a new home. At Jellis Craig, their team of experts is always available to assist, answering any questions you may have to make the process smooth and worry-free. Begin your search by exploring their rental listings to find your preferred property. Connect with a Jellis Craig leasing expert to arrange a viewing and submit an application, starting your journey toward securing a rental property with confidence.
Website: https://www.jelliscraig.com.au/rent/looking-to-rent
Melbourne Real Estate (MRE)
Established in 1992, MRE (Melbourne Real Estate) embodies the realization of a dream to establish a boutique real estate agency centred around world-class service and a winning culture, prioritizing clients above all else. Over the past three decades, MRE has evolved into a comprehensive firm, specializing in project marketing, residential sales, and portfolio management. Renowned for real people, real experience, and real results, MRE stands as an expert in Urban Liveability, witnessing and contributing to Melbourne’s transformation. Connecting residents with properties in vibrant neighbourhoods, MRE, based in South Yarra, Melbourne, excels in property management, sales, and leasing. As Melbourne propels towards 8 million people by 2050, MRE envisions the next thirty years to be as bold, innovative, and prolific as its remarkable journey thus far.
Website: https://mre.today/rent/
Compton Green
Compton Green stands as a leading real estate provider, delivering a comprehensive range of tailored services to assist clients in achieving their property goals. With a legacy spanning 90 years in the inner west, their residential sales team has expanded its reach throughout Melbourne and Victoria, guiding clients through the significant milestones of selling or buying a home. In commercial sales and leasing, they are the sole independent provider in the inner west, excelling in delivering outstanding results for clients across Melbourne by maximizing returns, fostering portfolio growth, and minimizing vacancy.
Their residential leasing team, one of the largest within Compton Green, brings a wealth of experience and passion to property management. Recognized as leaders in the Australian and New Zealand property management industry, they ensure that investment properties are handled with care, compliance with regulations, and efficient end-to-end management.
Compton Green Enterprise, specializing in property and facility services for high-level clients in government, private, and corporate organizations, manages both large- and small-scale projects across Victoria. With a focus on Residential Management, Asset Management, Facility Management, Land Management, Transitional Management, Advisory, and Bespoke Reporting, their Enterprise team continually reviews and develops service methodologies to ensure clients receive exceptional service in every aspect of property management.
Website: https://comptongreen.com.au/residential/rent/recent
Melcorp Real Estate
For almost two decades, Melcorp Real Estate has been a prominent player in the Melbourne real estate market. What started as a small team of Property Managers with a vision to cater to the unique demands of the Melbourne CBD market has evolved into a thriving and well-resourced real estate business. With a dedicated team of over 40 professionals, Melcorp Real Estate provides a premium level of service that incorporates the expertise of Sales Agents, Property Managers, an in-house marketing and design team, and efficient administration personnel. Leveraging their city-wide office network and boasting more than a century of combined experience, they have a profound understanding of the inner Melbourne market, enabling them to deliver exceptional services to their clients.
Website: https://www.melcorprealestate.com.au/rent/
The emphasis on user experience, security, and local expertise, as seen in the recommended platforms and agencies, reflects the evolving landscape of property searches. Readers are not only encouraged to explore traditional avenues but also to leverage innovative solutions
This is just a guide for individuals seeking rental properties in Melbourne. It gives you an overview of the intricacies of the competitive rental market, offering insights, leveraging online platforms and introducing the expertise of key figures in the real estate industry. But remember to always ask around people you may know and do more extensive research. Always consider your budget that would fit your lifestyle.
