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A triple net lease is an agreement between a property owner and a tenant for commercial property. The tenant is responsible for property insurance, real estate taxes, and common area maintenance, known as the three nets. Costs for these items are estimated for the year and included in the monthly rent. At the end of the year, the tenant may receive a refund if costs were lower or owe more if costs were higher. Tenants often request a cap on the triple net amount. Triple net leases are common in retail, industrial, and free-standing buildings.