MELBOURNE is yet to start contract negotiations with restricted free agent Colin Garland but expects to do so within the next month. 

AFL.com.au understands the Demons are keen to re-sign Garland and remain confident of doing so despite the 191cm defender's obvious appeal in a free agency pool recently stripped of re-signed key backmen Michael Johnson, Alex Rance and Heath Grundy.

Garland made a strong start to 2015, playing the Demons' first 10 games but has missed the past two after breaking his hand in the Demons' Queen's Birthday loss to Collingwood. 

It is understood the 27-year-old wants to return to the field, which the Demons are hopeful he will do in round 14 against West Coast, before starting talks.

No club has been hit harder by free agency than Melbourne, with the Demons losing key players in each of the past three seasons: Jared Rivers (Geelong) in 2012, Colin Sylvia (Fremantle) in 2013 and James Frawley (Hawthorn) last year.

However, the Demons' encouraging 4-8 start to 2015 – they have not won more than four games a season since 2011 – and the form of youngsters such as Angus Brayshaw, Jesse Hogan, Jack Viney and Tom McDonald could convince Garland the club is finally on track to end its long exile near the bottom of the ladder.

Industry sources expect Garland will attract strong opposition interest if he remains unsigned, with teams looking to bolster their backlines such as Carlton, St Kilda, Geelong, the Western Bulldogs and Brisbane Lions among his potential suitors.

Garland would command up to $500,000 on the open market given he is believed to be earning about $400,000 in the final year of his existing contract.

But Melbourne has the right to match any rival offers given Garland is a restricted free agent. 

The Tasmanian is best suited to manning the opposition's third tall rather than key forwards, but Garland has held his own against bigger and stronger opponents in the past, while his ability to pinch-hit in attack could also appeal to rival teams.

After the re-signings of Johnson, Rance and Grundy, North Melbourne's Robbie Tarrant is the 2015 free agent now attracting the most interest from clubs looking for a key defender.

Outside the free agency market, clubs are also circling out-of-contract talls such as Carlton's Lachie Henderson and Essendon's Jake Carlisle, while Gold Coast full-back Rory Thompson also comes out of contract at the end of this season.

Garland's market value could be determined by whether or not these key defenders re-sign with their clubs.

Garland was selected by Melbourne with pick No.46 in the 2006 national draft and has since played 125 games. 

He finished second in the Demons' 2013 best and fairest award and was a nominee for the 2008 NAB AFL Rising Star award.