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A triple net lease (NNN) is a lease agreement between a commercial property owner/manager and a tenant. It is commonly used for retail, industrial, and standalone buildings. The "three nets" refer to the tenant being responsible for property insurance, real estate taxes, and common area maintenance costs. Typically, these expenses are estimated annually and added to the monthly rent. At the end of the year, if costs were lower than estimated, the tenant receives a refund; if higher, they owe the difference. Tenants often seek to cap the total triple net costs. The tutorial also provides information on obtaining a free lease template.
