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A triple net lease is a type of lease agreement between a commercial property owner and a tenant. This type of lease is common for retail, industrial, and free standing buildings. The "three nets" refer to property insurance, real estate taxes, and common area maintenance, which the tenant is responsible for paying. Expenses for these nets are usually estimated for the year and incorporated into the monthly rent. At the end of the year, if costs were lower, the tenant gets a refund, but if higher, the tenant owes the difference. Most tenants request a cap on the triple net amount.