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A triple net lease is a type of lease agreement between a commercial property owner/manager and a tenant. It is commonly used in retail, industrial, and free-standing buildings. The three nets stand for property insurance, real estate taxes, and common area maintenance, which the tenant is responsible for paying. The costs of the three nets are estimated for the year and incorporated into the monthly rent. At the end of the year, any difference in costs is either refunded to the tenant or paid by them. Most tenants request a cap on the triple net amount to limit potential expenses.