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A triple net lease is a type of agreement between a commercial property owner/manager and a tenant. It is commonly used 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 the three nets are usually estimated for the year and included in the monthly rent. At the end of the year, any difference in costs is reconciled with the tenant. Most tenants will request a cap on the triple net amount to limit potential excessive costs.