Ion-neutral charge-exchange collisions in plasmas of laboratory, space, and astrophysical origins are fundamental to understanding wave dissipation and wave generation phenomena. This paper implements a charge-exchange collision operator in the Boltzmann–Poisson system equations for a weakly ionized plasma. When considering an electric field perturbation, the governing kinetic equations provide significant results concerning the plasma conductivity and the dielectric function, appearing in simple, sensible forms. The present analysis reveals a backward wave propagation phenomenon at maximum conductivity when the wavenumber of the plasma wave is smaller than the reciprocal of the ion-neutral collisions mean free path. In addition, it is shown that ion-neutral coupling resulting from charge-exchange collisions enhances ion-acoustic waves below and beyond the ion plasma frequency and leads to the onset of a fundamental instability that overcomes Landau damping under certain circumstances. The collisionless model is recovered as a limiting case, i.e., in the asymptotic limit of a long mean free path.