Part of the plan is the extension of the Vacant Property Refurbishment Grant.
A grant which allows homeowners of vacant properties to avail of up to €50,000 will be extended to include buyers who wish to rent out the building.
The Croi Coanithe Scheme provides funds to refurbish a property which has been vacant for two years.
Previously, the grant had only been to homeowners wishing to live in the building, but it will also be extended to include those who wish to rent the property.
Less than 40 applications for the scheme have been submitted to midlands local authorities, according to the latest figures from the Housing Department.
17 people have submitted an application in Offaly, 11 in Westmeath and just seven have applied in Laois.
Independent TD for Roscommon Galway, Denis Naughton says the extension should help the current rental market:
It's one part of a new €1 billion housing plan is due to be unveiled by cabinet this morning.
Also on the agenda is a scheme to provide up to €150,000 to developers or the Land Development Agency to build cost-rental homes.
It's expected development fees for infrastructure and water around new developments will also be waived in the short term.
Lecturer in Social Policy at Maynooth University, Dr Rory Hearne, doesn't believe it'll work:
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