This article systematizes data on the new system for organizing and funding the overhaul of common property in an apartment building (AB), being one of the most important directions of communal services reform. The purpose of optimization of the overhaul system of apartment building common property is effective functioning of the AB common property overhaul system. The optimization shall be implemented by applying international practices, while considering the specifics of domestic procedures of apartment building overhaul system. A defining concept in this new overhaul system is the overhaul fund whose main source would be obligatory target payments made by owners of apartments in apartment buildings. The owners from each apartment building should select one of two possible ways to create such a fund (on a special account or on a regional operator’s account). The article deals with development of regulatory framework for overhauls of common property in apartment buildings, approval of the regional program, minimum rate of contribution for the overhaul, as well as creation and management of the regional operator’s activities. Considering a number of existing issues, this article lists basic ways how to optimize the overhaul system for apartment buildings. The conclusions and proposals made in this study can be used to solve practical tasks.