Buying a flat or apartment in a large block is often the first step onto the property ladder for first time buyers. The idea of owning a property in a building where the upkeep of communal areas is handled jointly by all the owners is quite appealing - particularly if you don't want to spend your spare time mowing the lawn, maintaining the garden and painting and decorating hallways and 'common areas'.

Often flats that are in blocks are sold on a leasehold basis with the Freehold of the building being owned by a 'Management Company', shares in which are allocated equally between each of the property owners. The Management Company will then be responsible for the upkeep and maintenance of these shared areas and this will be paid for from a collective fund - made up from regular (usually monthly) payments made by the individual property owners.

What some people don't realise however, is that as a part owner of the Freehold of the building, each owner is also jointly liable for the upkeep and repair of the actual fabric of the building itself. So, if there's a leak in the roof - it's not just the person that owns the top flat that has to sort it out. It is a shared problem (and bill) with the person living in the basement flat being equally liable even though their property is not directly affected.

This shared liability situation was not made clear to a couple that I met recently that had purchased their first property in Glasgow at auction recently. Whilst they were delighted to have secured their first home (and at a really keen price as well), they were unaware that part of the bill for repair work to the building itself would fall on their doormat.

The flat they had purchased was in good order - albeit that it needed updating, but the building itself was suffering from subsidence due to the fact that it was built in what had been, a mining location. Many of the properties in this area suffered a similar problem and I recommend that anyone buying a property in an area which historically has been a mining location, has a full structural survey carried out before committing to buy.

In our Glasgow property, the flat itself showed no signs of any issues - with no visible cracks but the common areas of the building showed the tell tale signs of the area's past and large cracks can be seen. Now, it is possible that these are from historical movement and pose no threat to the building - they've been there for a long time and are not getting any worse, but should they be evidence of an ongoing structural problem, then the bill to rectify it could be enormous.

The other thing to be mindful of, is that a property displaying evidence of subsidence in this way may be unmortgageable. This wasn't an issue for our Glasgow couple as they were cash buyers - but if they want to sell up in the future then this could make the property unattractive particularly given that it is most likely to draw first time buyers who invariably require finance of some sort.

So, whilst the idea of sharing the upkeep of common areas is a great way to reduce general maintenance costs of owning a property, like a marriage, it is 'for better and for worse'. You have to accept that you may also have to pay for repair work that you don't have any direct benefit from.

For more information on this topic, please visit the site store to order your SIGNED copy of Martin's book, 'Teach Yourself: Making Money From Property' available for just £9.99 plus P+P.

Alternatively join me and my team on one of my Special 3 day Property Training Weekends, when we'll teach you what you need to know to become successful as a property investor or developer - and help you avoid costly mistakes.