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A triple net lease is a type of lease agreement between a commercial property owner/manager and tenant. It is commonly seen in 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. Costs are estimated for the year and incorporated into monthly rent. At the end of the year, any difference in costs is refunded to or owed by the tenant. Tenants often request a cap on triple net amounts.