Council tenants in Copeland have voted for their homes to be transferred out of local authority control.
More than 78% elected for a non-profit company, Copeland Homes, to take over the management of their properties.
There was a 60% turnout for the ballot and council bosses say the move will allow urgently needed maintenance work to be carried out more quickly.
Copeland is the latest authority in Cumbria to transferring housing stock to a so-called social landlord.
New government rules mean social landlord can borrow money to upgrade homes while the local authority cannot.
'Decent housing stock'
Newcastle-based Copeland Housing has pledged to spend almost £60m over the nest 10 years on the 4,000 homes involved.
The cash will be used to repair, renovate and upgrade homes.
Councillor Paul Whalley, said the new landlord would take over by March.
He said: "There is no way we as a council would have been able to provide the kind of decent housing stock, without the kind of money Copeland Housing can offer.
"Over 10 years Copeland will be able to invest £58m, where as a costing estimate showed we would have only been able to find £29m over the same period."
Carlisle and Allerdale councils have already transferred their housing stock.