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A triple net lease is an agreement between a property owner and a tenant. It involves the tenant being responsible for property insurance, real estate taxes, and common area maintenance. The costs of these expenses are estimated for the year and included in the monthly rent. At the end of the year, if costs are lower, the tenant gets a refund; if higher, they owe the difference. Tenants often request a cap on the triple net amount. Triple net leases are common in retail, industrial, and free-standing buildings.