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A triple net lease is a type of lease agreement between a commercial property owner/manager and a tenant, common 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 for the three nets are typically estimated for the year and included in monthly rent. At year's end, tenants may receive a refund for lower costs or owe more for higher costs. Tenants often request a capped triple net amount.
