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A triple net lease is a type of agreement between a property owner and a tenant for commercial property. It involves the tenant paying for property insurance, real estate taxes, and common area maintenance in addition to rent. Costs are estimated annually and incorporated into monthly rent, with any difference refunded or owed at the end of the year. Tenants often request a cap on the triple net amount. Triple net leases are common in retail, industrial, and free-standing buildings.