How to Get Approved for a Rental Property in Melbourne CBD for First-Time Renters

The idea of waking up in the heart of Melbourne is enough to make anyone excited. But for first-time renters, the path to securing that dream apartment can feel like navigating a maze of paperwork, competition, and unfamiliar rules.

Additionally, the Melbourne CBD rental market is one of the most competitive in the country. This means newcomers with no rental history will be up against seasoned renters who know exactly how to impress rental providers and property managers.

The good news is that getting approved for a rental property in Melbourne CBD is absolutely achievable, even if it’s your first time. In this guide, our experts from Melcorp Real Estate will walk you through everything you need to know: from the documents you’ll need to practical tips that can help get your application to the top of the pile.

Understanding the Melbourne CBD Rental Market

If you are aiming to find and rent a rental property in Melbourne CBD, it helps to understand the playing field before you dive in. Here’s what you need to know:

Vacancy rates and demand trends

Vacancy rates in Melbourne’s CBD remain tight. However, recently, there has been a slight uptick to 1.8% this June 2025 from 1.1% in April 2025, indicating an easing in demand or new rentals entering the market.

As for average rates, Melbourne has recorded a median weekly rent of $580 in March 2025, with some smaller or older units coming in slightly lower. For first-time renters, this means you’ll need to budget carefully, not just for rent, but also for your bond and initial rent in advance.

Types of properties you’ll find

The CBD is dominated by high-rise apartments, ranging from sleek new developments to older buildings with a bit more character. Many properties are targeted toward professionals and students, with layouts that range from compact studios to two-bedroom units. 

Furnished apartments are common, especially in developments that cater to short-term residents or international renters, but they often come at a higher weekly rate.

What rental providers expect

With so many applicants per property, rental providers and property managers in Melbourne CBD tend to set a high bar. They’re looking for tenants who can demonstrate stable income, reliability, and the ability to care for the property. 

If you don’t have a rental history, you may need to provide alternative references, such as from an employer, or offer a guarantor to strengthen your application.

Step-by-Step Guide to Getting Approved as a First-Time Renter in Melbourne CBD

Securing Melbourne CBD rental approval as a first-time renter is all about proving that you’re a reliable, prepared, and low-risk tenant to your potential rental provider. Here’s a clear, practical roadmap to boost your chances.

Step #1: Prepare your documents before you start inspecting

When it comes to the documents needed to rent in Melbourne, think of it like a job application. You need to present yourself as a complete package from the start. 

Commonly required documents include:

• Proof of identity – passport, driver’s licence, or proof of age card.
• Proof of income – recent payslips, bank statements, or a signed employment contract.
• References – if you’ve never had a rental provider, ask an employer, teacher, or community leader who can vouch for your reliability.
• Other supporting documents – a short personal bio or “renter resume” can give your application a human touch.

Having this ready means you can apply immediately after an inspection, which is critical in a CBD market where listings can be gone within a day or two.

Step #2: Understand the upfront costs

If you’ve never rented before, the terms “bond” and “rent in advance” can sound like jargon. In Melbourne:

• Bond – a security deposit, usually four weeks’ rent for properties under $900/week, held by the Residential Tenancies Bond Authority.
• Rent in advance – usually two weeks’ rent, payable before you move in.

As a first-time renter, showing you’ve budgeted for these costs (and can prove it with a bank statement) tells the rental provider you’re ready to go without delays.

Step #3: Write a cover letter

Without rental history, your cover letter is where you convince the rental provider you’ll be a great tenant. Keep it short but specific. Include the following:

• Who you are (age, job, study, background)
• Why you want to live in Melbourne CBD (location, lifestyle, convenience)
• Why you’ll look after the property (cleanliness, stability, respect)

A well-written cover letter can do the heavy lifting when you can’t provide a previous rental provider reference. Keep your tone polite and professional. Agents and rental providers are more likely to remember an application that feels personal and confident.

Step #4: Make a good impression at inspections

Inspections are your chance to stand out before the paperwork is even seen. Dress neatly, arrive on time, and be courteous during inspections. Asking thoughtful questions about the property also shows genuine interest and signals to the agent that you’re serious. 

Remember, property managers often make mental notes about applicants before they even see the paperwork.

Step #5: Apply immediately after viewing

In the Melbourne CBD rental market, properties can be leased within 24–48 hours of being listed. If you find a property you love, submit your application the same day. 

Being organised with your documents and finances makes this possible and often gives you an edge over other applicants who need more time.

Overcoming First-Time Renter Challenges in Melbourne CBD

Here’s how to turn a few disadvantages to your favour:

Have a guarantor or co-signer

When you don’t have a rental provider reference, a guarantor (often a parent) is one of the most powerful tools. Having a guarantor (often parents) reassures rental providers that rent will be paid, even if you’re new to renting. You could also consider a co-signer who legally shares financial responsibility.

High competition for properties

Melbourne CBD rentals are in high demand, particularly for well-located apartments near transport, universities, and amenities. So, attend inspections early in the listing period, have your documents ready, and be prepared to apply on the spot. 

Submitting a complete, error-free application within hours of viewing can also help you stand out in a competitive field.

Moving from overseas or interstate

If you’re relocating to Melbourne CBD from overseas or another state, you might not be able to attend inspections in person. Consider appointing a trusted friend, family member, or relocation agent to inspect properties on your behalf. 

Many property managers now also offer virtual inspections, which can help you make informed decisions without being physically present.

Misleading or outdated listings

Some online rental listings can be misleading or not updated once a property is taken. To avoid wasting time, always cross-check details with the agent before applying and prioritise properties listed by reputable Melbourne CBD real estate agencies like us at Melcorp Real Estate.

Hidden costs beyond rent

Rent is only part of the cost of living in Melbourne CBD. Be aware of bond payments, utility connections, internet setup, and potential strata or building fees.

To understand the full amount you’d need upfront, ask for a full breakdown of costs. This will help you budget accurately and prevent financial surprises.

Short inspection windows

Inspection times can be brief and scheduled during work hours. So, sign up for property alerts, communicate your availability to agents, and request alternative inspection times where possible. 

How Melcorp Real Estate Can Help First-Time Renters

Finding a rental property in Melbourne CBD can be daunting for first-time renters, but Melcorp Real Estate can help make the process easier. 

With years of experience in CBD property management, our team understands the nuances of rental providers’ expectations, tenancy laws, and competitive rental markets. This insider knowledge allows us to match you with properties that fit your lifestyle, budget, and long-term needs while guiding you through the application process to improve your chances of fast approval.

Start your Melbourne CBD renting journey the smart way. Contact us today and secure a property you’ll love.