With most businesses operating out of leased premises, it is extremely important that you know your legal position in respect of your lease. The more you understand your rights and obligations as a lessor or lessee, the easier it is to avoid disputes. As a landlord, avoiding disputes is essential in lessening any chance of problems in relation to your income generated from the property. On the other hand, tenants need to be aware of their rights so their business operation or living arrangements are not affected. Leases are generally regulated by the lease document itself. Additionally, leases are regulated by common law and legislation such as the Retail Shop Leases Act 1994 (Cth) .