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A triple net lease is an agreement between a commercial property owner and a tenant, 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. Costs for the three nets are estimated for the year and included in the monthly rent, with the tenant receiving a refund if costs are lower or owing more if they are higher. Tenants often request the triple net amount to be capped.