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A triple net lease is an agreement between a commercial property owner and a tenant. This type of lease is common in retail, industrial, and free-standing buildings. The "three nets" refer to property insurance, real estate taxes, and common area maintenance, which the tenant is responsible for paying. The costs are estimated for the year and included in the monthly rent. At the end of the year, any difference in costs is refunded or owed by the tenant. Most tenants request a cap on the triple net amount.