Theoretical and practical features of the management of communal property in accordance with the current legislation of Ukraine are studied. The position on the need to qualitatively expand the content of the existing principles of communal property management was supported. The author is of the opinion that the formation of effective local self-government as part of the goal of the administrative-territorial reform introduced in Ukraine requires, among other things, taking into account the

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... ral principles of economic activity, including greater dispositiveness in decision-making by local governments. Gaps have been identified within the limits set by the current legislation for the management of communally owned property in correlation with approaches to the implementation of business relations in Ukraine. An analysis of the current legal framework governing the boundaries and procedures for decision-making on the management of communal property revealed a lack of declarative rules that determine the prerequisites and procedures for the transfer of communal property from the common property of territorial communities in Ukraine. Author expressed an opinion that the existing procedure of managing objects of property rights of territorial communities, as an element of powers of the property owner, restrains the action of the principle of material and financial independence of local self-government enshrined in the Constitution of Ukraine. It has been established that one of the key criteria that should be followed by entities empowered to manage communal property is social orientation in making any organizational and business decisions. The idea of outsourcing as one of the most pragmatic ways to improve the efficiency of communal property management is supported given its wide range of optimization properties. The author also noted the possibility of delimitation of powers between local governments to manage the common property of territorial communities in the context of contractual relations established on the basis of voluntary cooperation and mutual responsibility.