TENANTS could again be asked to approve the sale of Wycombe District Council's council houses.
The option - last rejected in 2004 - is being discussed between council bosses and tenants' representatives.
WDC is the only local authority in Buckinghamshire to retain its 6,100 homes.
But council chiefs warn that the service in the future will be too expensive to run to an acceptable standard.
A leading tenants' representative said there would be some opposition to the plans and pledged to push for "open and frank" discussions.
Last week the council was strongly criticised by the Audit Commission for its housing management.
The public spending watchdog said the council does not have a "strong culture of customer care" and had "little understanding" of how service cost and quality is linked.
Martin Hale, the council's head of housing, said: "It needs to be decided whether we should keep our stock or not. That decision will be made by the tenants."
Councillor Chris Watson, who is responsible for council housing, said: "I don't think the council has a view apart from saying our duty to house people in this district must be affordable."
Yet this duty was being compromised, he said, as almost half the rent collected by the council went back to Government. Next financial year the council will hand over 46 per cent, £11.3million.
Housing associations - which can take over housing stock - do not have to return rent proceeds to Whitehall.
The council has to bring homes up to a Government approved standard by the end of 2010 - and this was being taken as a milestone Cllr Watson said.
He said: "It doesn't seem to be affordable using the current system past 2010.
"We must do better. We are not serving our population properly if we do not do better."
Discussions are taking place with Wycombe Tenant and Leaseholder Committee and Cllr Watson said he hoped to report to the council's cabinet, which takes key decisions, in October or November.
As many options as possible will be considered.
Committee chairman Jennie Ferrigno pledged "open and frank" discussions between tenants and the council.
Yet she said: "Things can't stand still. Tenants who oppose transfer would have to accept if we stayed with the council we would have to accept a lower service because there wouldn't be any money."
Tenants rejected the transfer in an August 2000 ballot. A 2004 housing options appraisal produced the same the result.
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