A “triple net lease” is a commercial lease where, in addition to the agreed upon rent payment, the lessee assumes responsibility for expenses associated with the operation of the property. This can include fixed expenses, such as property taxes and insurance, and all operating expenses, including cost of maintenance and repair. The costs passed on in a triple net lease are variable. They rarely decrease. Thus, a triple net lease favors the lessor. When considering such a lease, the lessee should negotiate for caps or ceilings on certain costs to limit the maximum amount of rent to be paid.