Since the reform of Title V of the Italian Constitution and with the subsequent interventions deriving from the so-called “state property federalism”, local authorities are increasingly required to promote the “maximum functional valorisation” of their real estate assets. The paper analyses the issue of concessions of public property by local authorities to third sector organisations, taking into account sources of positive law and jurisprudence at national and European level. The study focuses in particular on two problems: that of the possibility of granting goods at a subsidised rate or free-of-charge to third sector entities, and that of the procedures for assigning them to private individuals. With regard to the first question, it is shown that it is in the full right of local authorities to grant their assets at a subsidised rate or through free loans to third sector organisations, under certain conditions. The second part of the work focuses on how the assets are granted, analysing the rules and principles governing the methods used for granting them. The final section analyses some concrete cases based on specific municipal regulations, identifying common points and differences between the choices made by some local administrations (public or private tendering, negotiated procedure).