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A triple net lease is a lease agreement between a commercial property owner/manager and a tenant. It typically applies to retail, industrial, and standalone buildings. The term "triple net" refers to the tenant's responsibility for three expenses: property insurance, real estate taxes, and common area maintenance. These costs are estimated annually and incorporated into monthly rent. At year-end, if the expenses were lower than estimated, the tenant receives a refund; if higher, the tenant pays the difference. Most tenants often request to cap the triple net amount to manage potential costs. Additionally, resources for obtaining a free lease template are provided.