PROBLEMS OF REGIONAL DEVELOPMENT AND DECENTRALIZATION УДК 332.14:339.94 JEL: 1SI “Institute of Regional Research named after M.I. Dolishniy of the NAS of Ukraine”, Research ID : http://www.researcherid.com/rid/ INSTITUTIONAL FEATURES OF TERRITORIAL COMMUNITY PROPERTY MANAGEMENT Institutional features of territorial community property management are considered. The presence of communal property is a necessary prerequisite for material and financial independence of territorial communities. A territorial community (residents of a village or a voluntary association of residents of several villages, settlements and towns in a rural community) owns, uses and disposes at its discretion and in its interests the property belonging to it both directly and through local governments. The use and management of property involves major socio-economic risks that affect or may affect the living standards of residents, as it involves the management of property that is important for the viability of the community. The risk factors of communal property management, which determine the level of risks in making appropriate management decisions, are singled out. Decision-making is the most important function of management, the successful implementation of which ensures the achievement of the territorial community's goals. Residents suffer from staff weakness due to the inability to carry out this process efficiently and effectively, and the lack of effective property management mechanisms. The desire to influence the distribution of power is determined by the purpose of obtaining rent, while rational economic agents spend significant funds and efforts to create new sources of its receipt. The high level of corruption in Ukraine causes the risk of rent-oriented behavior in the system of communal property management. The institutional risks of communal property management, which predict the occurrence of phenomena and factors that negatively affect the independent ownership, effective use and disposal of property by the territorial community in their own interests, are identified. Without a formalized system of ownership that reveals the economic potential of assets and transforms them into a form convenient for transactions and control, the assets of the territorial community represent only a "dead stock" of potential energy. The effects of the formalized property system in the communal property management system are determined. Keywords:territorial community; communal property rights; institutional risk; communal property; rent-oriented behavior
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