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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 for retail, industrial, and free-standing buildings. The tenant is responsible for property insurance, real estate taxes, and common area maintenance (the "three nets"). Costs are estimated for the year and included in monthly rent, with potential refunds or additional payments at the end of the year. Tenants may request a cap on the triple net amount.