What your rent buys at One Avenue

One Avenue has been one of the quieter successes on Binga's desk this year: three furnished three-bedrooms listed between June and August, at $2,000 or MVR 40,000 a month, and all three have since been taken. None is available today. Here is what the rent bought, and what to ask for when the next one comes up.

The homes and the rents

These are listed rents, not the rents finally agreed.

Two currencies, one building. At the pegged rate of roughly 15.4 rufiyaa to the dollar, MVR 40,000 is about $2,600, so the rufiyaa-priced 3+1 was listed noticeably higher than the two dollar-priced homes. Its listing described floor-to-ceiling windows, bi-fold balcony doors and unobstructed sunset views over the marina. At One Avenue, as elsewhere, the view and the finish account for most of the gap between otherwise similar homes. Either way, these rents sit in the upper part of the band the concierges quote for three-bedrooms in Greater Malé.

What the flat gives you

The catalogue's sizes show how much the three-bedroom homes vary here, from about 1,083 to 2,091 square feet. The 3+1 plans Binga has let are at the compact end, around 1,100 square feet, and use it well:

• Three en-suite bedrooms and a guest bathroom, plus a maid's or storage room with a fourth full bathroom.
• A private balcony and a service balcony in most units.
• A modern kitchen with living and dining space, storage, air-conditioning, and hot and cold water.
• Full furnishing, which here means move-in ready. The concierge lists the inventory in writing so it goes into the agreement.

What the building gives you

According to the developer, the building provides:

• A concierge and a 24-hour reception.
• 24-hour manned security, CCTV and access control.
• A fire prevention system.
• Four residential lifts, with a separate commercial lift.
• Two floors of parking for cars and motorbikes.
• A private garden and children's playground on the second floor.
• A shopping mall and retail spaces within the building.
• A short walk to the Hulhumalé ferry terminal and Central Park.

What it does not list is a pool, a gym or backup power. If any of those matter to you, say so in the brief. The concierge will confirm the building's arrangements, and the service charge, with the owner.

Who built it

One Avenue was developed by DAMAS Real Estate Pvt. Ltd. It is the only DAMAS building in the directory Binga keeps, so this is the developer's record as far as the desk can report it: a single 95-home tower, planned floor by floor around its views.

How renting here through Binga works

Start with the tenant brief at concierge.binga.mv/tenants, or send a WhatsApp message to +960 778-3395. Give the number of bedrooms, your budget in either currency, your move-in date, and whether you need the marina side or a parking space.

A concierge then shortlists the homes that fit, including other marina-front buildings on the same street, and arranges the viewings. Every home Binga introduces has been inspected and its owner verified. The agreement is with the owner directly, with no broker layer on top of the rent.

The next step is to send the brief and name One Avenue in it. The concierge will contact you when the next home that fits comes to market.