The article contains the analysis and evaluation of the management of communal land and property resources, or the real estate pool, in the Bobolice municipality, as well as the impact of the said management on the municipality’s development. The analysis consisted in the assessment of municipal real estate management from the point of view of the municipal finance and economy. Reports from the municipal budget implementation for the years 2009–2013 have been assessed, with the focus on costs and revenues pertaining to municipal real estate resources. Subsequently, indices have been proposed, which determine whether the management of communal land and property resources has an impact upon municipal development. Values which the indices have reached served to demonstrate that the revenue from municipal real estate is so low as it cannot significantly stimulate the development of the municipality, whereas the costs of preparing the real estate for investment purposes was not covered. However, when municipal investment is taken into account, it should be stated that the management of communal land and property resources does support municipal development of the studied municipality in a long-term perspective. The article shows the management of communal land and property resources through the lens of financial indices, however, there are also non-financial factors, which have a significant impact on the effectiveness of real estate management in the given municipality.