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A triple net lease is a lease agreement between a commercial property owner or manager and a tenant, primarily used for retail, industrial, and standalone buildings. The term "triple net" refers to the tenant's responsibility for three key payments: property insurance, real estate taxes, and common area maintenance. These costs are typically estimated annually and included in monthly rent. At the end of the year, if costs were lower than estimated, the tenant receives a refund; if higher, they must pay the difference. Tenants often request a cap on the triple net amount to limit their expenses. Additionally, a free lease template is available for those interested.