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In response to the theme section on commoning in the December 2017 issue of Focaal, this article raises further questions for discussion and proposes an analytics of the commons that grasps it through the lens of property regimes. The key question concerns how we might best envision the relation of the commons/ commoning to the state, capitalism, and commonality in a way that does justice to both a broadly Leftist politics of the commons and an analysis of really existing commons that might deviate from this ideal. The conceptual lens of property regimes proposed here focuses empirical attention on relations of production and the organization of membership and ownership in the commons without including a particular politics into the definition as such.