The top city for renters based on quality of life was found to be Scottsdale, Arizona, where the median rent stands at $2,995, above the national average of $2,100. Situated in the picturesque Sonoran Desert and renowned for its western charm and annual horse events, Scottsdale has experienced rapid growth over the past 20 years, including an 88% increase in millionaire residents from 2012 to 2022. As of 2023, it hosts 13,900 millionaires, 60 centi-millionaires, and five billionaires.
A full-service lease is a lease that has one, all-inclusive rental rate which includes both the base lease rate and the operating expenses combined into one figure.
A modified gross lease is a lease where the tenant pays base rent at the lease’s inception, but it takes on a proportional share of some of the other costs associated with the property as well, such as property taxes, utilities, insurance, and maintenance.
A triple net lease is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.
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