The idea is to provide a facility modelled on TripAdvisor allowing tenants to rate their rental properties and to check the ratings given by others before entering a lease.
Aspects covered will include outstanding repairs, heating and air conditioning, energy efficiency, and an overall rating.
So far, $979 has been pledged towards the $30,000 target.
Access to the site will apparently not be free, as those putting at least $75 into the project will be rewarded with three years of access at no charge once Rate Your Rental is up and running.
The Pozible campaign runs until 22 November, and if it is successful the site is scheduled to go live in January 2015.
"There are over 1 million tenants in the private rental market in Victoria - Rate your Rental will give them the benefit of checking past ratings on a property before they've signed a lease. We think it will start to tip the balance of power back towards tenants, but we need your help to make it a reality," said Mr O'Brien.