How Much Tax Does a Dublin Landlord Actually Pay? A Real Example
A Dublin landlord collecting €2,000/month in rent earns €24,000/year gross. After all expenses and tax, what's actually left? The answer might surprise you — and it depends heavily on whether you're claiming all your deductions.
The Scenario
Meet our example landlord: they own a 2-bed apartment in Dublin 8, purchased for €350,000 with a €280,000 mortgage at 4.1% interest. The property is rented at €2,000/month. They're in the higher tax bracket (40% income tax + 4% PRSI + 8% USC = approximately 52% marginal rate on rental income).
Landlord Tax Kit
Rental income spreadsheet, deductions tracker, Form 11 walkthrough, and quarterly tax planner.
Step 1: Gross Rental Income
| Item | Annual Amount |
|---|---|
| Monthly rent × 12 | €24,000 |
Step 2: Allowable Deductions
| Deduction | Amount |
|---|---|
| Mortgage interest (€280k @ 4.1%) | €11,480 |
| Management company fees | €2,100 |
| Insurance (landlord policy) | €680 |
| Repairs & maintenance | €1,200 |
| BER assessment (Homerating.ie) | €200 |
| RTB registration | €40 |
| Accountant fees | €500 |
| Advertising (Daft listing) | €120 |
| Local Property Tax | €360 |
| Wear & tear (furniture 12.5%) | €375 |
| Total deductions | €17,055 |
Step 3: Taxable Income & Tax Due
| Calculation | Amount |
|---|---|
| Gross rental income | €24,000 |
| Less: allowable deductions | −€17,055 |
| Taxable rental income | €6,945 |
| Income tax @ 40% | €2,778 |
| PRSI @ 4% | €278 |
| USC @ 8% | €556 |
| Total tax on rental income | €3,612 |
The Bottom Line
| Summary | Annual | Monthly |
|---|---|---|
| Gross rent received | €24,000 | €2,000 |
| Less: cash expenses (excl. mortgage capital) | −€5,575 | −€465 |
| Less: mortgage payments (interest + capital) | −€16,260 | −€1,355 |
| Less: tax on rental income | −€3,612 | −€301 |
| Net cash in pocket | −€1,447 | −€121 |
This is why the "landlords are getting rich" narrative frustrates many property owners. The real return is in long-term equity — not monthly cashflow, at least not while you have a mortgage.
What If They Missed Deductions?
If this landlord forgot to claim mortgage interest, BER costs, and wear & tear (surprisingly common), their taxable income would be €18,480 instead of €6,945 — and their tax bill would be €9,610 instead of €3,612. That's €5,998 more tax per year for not claiming legitimate deductions.
And for the full deductions list: Every Landlord Tax Deduction 2026
How to Improve the Numbers
- Claim every deduction: Use our complete deductions checklist or get the Landlord Tax Deductions Spreadsheet (€29)
- Consider energy upgrades: The €10,000 retrofitting deduction + SEAI grants can make upgrades nearly free. See landlord retrofit analysis on HEG
- Switch mortgage: Even 0.5% lower saves ~€1,400/year in interest. Try our Mortgage Switching Calculator
- Get BER updated: A better BER can justify higher rent and attract better tenants. Book at Homerating.ie