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