Real estate accounting services help Irish property business owners – including property managers, realtors, and landlords – track all financial activities, including rent, fees, maintenance costs, salaries, and taxes, ensuring accurate and legal record keeping.
According to the Central Statistics Office (CSO) Ireland, house prices rose by 7.9% in the 12 months to May 2025.
This increase makes money management a must-have. Property businesses should manage their finances and comply with Ireland’s tax laws by using real estate accounting services.
What is Real Estate Accounting?
Real estate accounting is about keeping track of all the money coming in and going out related to properties. It includes recording rent payments, bills, employee wages, taxes and financial reports.
Because real estate finances can be complex with many expenses and income sources, experts help property owners and managers follow Ireland’s laws like the Companies Act 2014 and accounting rules to keep everything organised and legal.
In simple terms, real estate accounting helps you understand your property business’s money so you can manage it well and pay your taxes correctly.
What are the main Real Estate Accounting Services?
The core services provided by real estate accounting firms and CPAs are listed below:
| Service | What is covered |
|---|---|
| Real Estate Bookkeeping | Keeps records of rental income, utility bills, repair costs and agent commissions. |
| Staff Payroll | Handles employee salaries along with PAYE and PRSI requirements. |
| Financial Reports | Creates profit & loss statements, balance sheets and cash flow summaries. |
| Tax Services | Takes care of VAT returns, stamp duty and corporation tax and capital gains taxes. |
| Account Reviews | Checks that books are accurate and meet all legal requirements. |
| Tax Planning | Finds tax savings opportunities and helps claim available reliefs. |
These accountants use software suited to Ireland’s tax laws. They make sure that the year-end accounts and VAT filings are completed on time, which will avoid the risk of penalties and plan for growth.
With these accounting services you will be able to:
What are the key Accounting tasks for Property Managers & Realtors?
There is a wide range of accounting tasks for property managers and realtors that help businesses stay financially healthy and in accordance with the Irish tax laws.
The key tasks include:
- Monitoring of rent by keeping a complete record of all tenant rent receipts, deposits and remaining rent.
- Paying employees and contractors in accordance with Ireland’s tax and employment law.
- Regular bank reconciliation involves comparing bank statements with accounting records to catch errors early.
- Financial reporting requires preparing monthly, quarterly and annual reports to keep stakeholders informed.
- Tax compliance includes staying current with VAT, stamp duty, capital gains tax, corporation tax and revenue filing deadlines.
Many property professionals use real estate CPA services for expert guidance and practical support or opt for monthly bookkeeping for realtors to deal with these complex tasks.
VAT-Specific Issues in Irish Real Estate
VAT compliance in Irish real estate can be complex, especially regarding commercial leases and property sales. Typically, commercial property leases may be subject to VAT at the standard rate of 23%, but landlords can opt to tax these leases which affects how VAT is charged and reclaimed. Residential lettings are generally VAT-exempt and cannot be opted for VAT.
The sale of commercial properties is usually liable for VAT at a reduced rate of 13.5% for “new” properties, particularly within five years of completion or when significant developments have occurred. Sales of older or developed properties may be exempt from VAT under certain conditions.
Real estate accountants help property owners and managers navigate these VAT rules, ensuring:
- Timely and accurate VAT registration and filing
- Correct application of VAT rates on leases and sales
- Awareness of VAT exemptions and the “option to tax” mechanism
- Avoidance of penalties related to VAT mismanagement
Meeting VAT deadlines and understanding exemptions are critical to staying compliant and avoiding costly fines from Irish Revenue.
Brexit Impact on Irish Real Estate Accounting/Tax
Brexit has introduced new tax and regulatory challenges for Irish real estate businesses, affecting cross-border transactions and compliance requirements. Experienced CPAs assist property businesses in adapting to these changes to maintain smooth financial operations
What are the financial challenges do Irish property managers face?
There are many financial issues that property owners in Ireland face that can affect their profits and their way of working. It is important to understand these issues so that you can be better prepared.
Common financial problems:
- High property prices and loan difficulties: Rising prices and strict loan rules make it difficult to buy property and invest.
- Unable to estimate ongoing expenses: Legal fees, stamp duty, taxes and repairs can cause sudden financial problems.
- Rent delays and tenant problems: Late or no rent can disrupt the flow of money.
- Managing multiple properties: Keeping track of income and expenses for multiple properties is a time-consuming task.
- Changing laws and regulations: Understanding and complying with new VAT, tax and accounting rules adds extra work.
- Liquidity and funding issues: Changing property prices and expensive loans can affect cash flow and investment plans.
Property managers who address these problems with proper bookkeeping and expert advice tend to succeed long-term.
How can Real Estate CPAs benefit you?
When you hire a CPA for real estate, it can be extremely beneficial for your property business. These experts understand the Irish real estate market well and can help guide you in tax and financial matters.
Benefits of Real Estate CPA services:
- Identifying and maximising available tax deductions for expenses such as repairs, maintenance and management fees, thereby reducing taxable income.
- Advising on real estate tax services including VAT exemptions and strategies to minimise stamp duty on property transactions.
- Efficiently planning sales and purchases to minimise capital gains tax where applicable.
- Ensuring full compliance with Irish Revenue regulations to avoid costly penalties and audits.
- Providing strategic financial advice to improve cash flow and help grow property portfolios over the long term.
- Assisting property businesses during tax audits and handling detailed, complex filings.
Working with real estate CPAs not only improves bookkeeping accuracy for real estate agents but also makes it easier to plan for taxes in advance and minimise risk. This ultimately saves you money and keeps your investment safe.
Digital Transformation and Cloud Accounting Trends
Which Accounting Software works best for Irish Real Estate?
Cloud accounting platforms like Xero and QuickBooks Online are transforming Irish real estate accounting by enabling real-time financial tracking, remote collaboration, and seamless compliance with tax laws. Digital tools improve accuracy, save time, and give property managers better control over their finances.
Choosing the right accounting software can make real estate bookkeeping and tax compliance much easier for property managers, landlords and realtors.
It automates many tasks, keeps track of finances and generates reports in accordance with Irish tax rules.
Here are some popular accounting software options suited for the Irish real estate market:
| Software | Features | Best for |
|---|---|---|
| QuickBooks Online | VAT tracking, invoicing, payroll management | Small to medium real estate firms. |
| Xero | Cloud-based, multi-user access, easy collaboration | Growing property businesses. |
| Sage Accounting | Budgeting, payroll, asset management | Larger property management firms. |
| Wave | Free plan, bank syncing, invoicing | Small startups and freelancers. |
| Oracle NetSuite | Comprehensive financial management and ERP | Large enterprises and portfolios. |
Using the right software improves accuracy, saves time and helps keep your real estate business compliant with Irish financial laws.
How to choose the right Real Estate Accountant or CPA in Ireland?
Choosing the right real estate accountant or CPA for your property business will determine your success. Here are some simple tips:
Check the qualifications first
It is better if the accountant is certified from Chartered Accountants Ireland. This shows that they are well aware of the tax rules of Ireland.
Experience in Real Estate
Look for experience in real estate accounting services, including bookkeeping for real estate agents and property management bookkeeping.
Real estate accountants familiar with Irish laws on stamp duty, capital gains tax and property-specific tax compliance reduce risk and optimise savings.
Technology savvy
Verify their proficiency and are they able to operate software like Xero, QuickBooks, Sage. Also check if they offer virtual bookkeeping for real estate professionals.
Full-service offering
A good real estate CPA should offer:
- Comprehensive bookkeeping for property managers and realtors.
- Detailed tax planning and compliance services.
- Real estate CPA services involving strategic financial advice.
- Real-time financial reporting and assistance with audits.
Listen to other’s opinions
Talk to the property accountant’s past clients. Look for good reviews.
Communication skills
Provides advance advice and communicates clearly and keeps you informed about new tax rules.
CPA Service Pricing Models and Typical Costs in Ireland
- CPAs in Ireland commonly use these pricing models:
- Hourly Rates: Usually €75 to €200 per hour depending on service complexity.
- Fixed Monthly Fees: Starting around €200-€500/month for ongoing bookkeeping and tax services.
- Project-Based Fees: Flat fees for specific tasks like year-end accounts or tax planning.
- Value-Based Pricing: Fees based on the value and complexity of advisory or strategic services.
- Pricing depends on CPA experience, service scope, and client needs.
- Clients should agree on clear fee arrangements upfront to avoid surprises.
- Choosing a CPA is about balancing cost with expertise, especially knowledge of Irish real estate tax laws and accounting.
Importance and relevance of ESG reporting trends
ESG (Environmental, Social, and Governance) reporting is becoming a key part of real estate accounting in Ireland. Property businesses are now expected to monitor and report sustainability metrics to meet investor demands and regulatory requirements, helping them build a responsible and future-proof portfolio.
Conclusion
Effective real estate accounting is essential for running a profitable and legally compliant property business in Ireland.
Staying updated with evolving tax laws, regulatory requirements, and leveraging modern tools like cloud bookkeeping and ESG reporting can help property managers and realtors achieve long-term success.
Partnering with experienced real estate CPAs ensures better tax planning, accurate financial reporting, and smoother audits.
With a strong accounting foundation, Irish real estate professionals can confidently grow their portfolios and meet the challenges of 2025 and beyond.
Frequently Asked Questions
What is the best accounting software for real estate agents?
Is affordable bookkeeping available for small landlords?
Do brokers need special accountants?
Is bookkeeping different for real estate developers?
Can startups get bookkeeping help?
Are there CPAs for commercial real estate investors?
How do I find a local real estate accountant?
What are typical CPA service fees for real estate businesses in Ireland?
Parul is a dedicated writer and expert in the accounting industry, known for her insightful and well researched content. Her writing covers a wide range of topics, including tax regulations, financial reporting standards, and best practices for compliance. She is committed to producing content that not only informs but also empowers readers to make informed decisions.
