Further discussions are expected to take place tonight among Government party leaders and the ministers for Housing, Finance and Public Expenditure ahead of an expected Cabinet decision tomorrow on Rent Pressure Zones (RPZs).
Taoiseach Micheál Martin said the proposals are well balanced and they would give greater protections to renters and provide certainty for investors.
However, this is a contentious political decision.
Already, the Government has been accused of throwing renters to the vulture funds, but it remains resolute that it will take action.
Under the plans, which will be pored over again, rents in newly built properties will no longer be capped at 2% annually but will instead be tied to the rate of inflation.
The proposal, which Minister for Housing James Browne will bring to Cabinet, will likely state that there will be no changes for existing renters if they stay in their current tenancy.
However, if they move a landlord can reset the rent for the new tenant at the market rate.
There will also be protections for new renters which will provide security of tenure for at least six years.
