diff --git a/neutron/agent/common/placement_report.py b/neutron/agent/common/placement_report.py
index 103a23b949b..dab95e91089 100644
--- a/neutron/agent/common/placement_report.py
+++ b/neutron/agent/common/placement_report.py
@@ -205,14 +205,30 @@ class PlacementState(object):
         return agent_rp_traits
 
     def deferred_update_resource_provider_traits(self):
+
+        def _get_traits(device, physical_bridges, physnet_trait_mappings):
+            if device == self._rp_tun_name and device not in physical_bridges:
+                # That means the RP for tunnelled networks is not associated
+                # to a physical bridge interface.
+                return [n_const.TRAIT_NETWORK_TUNNEL]
+            elif device == self._rp_tun_name and device in physical_bridges:
+                # The physical network and the tunnelled networks share the
+                # same physical interface.
+                return [n_const.TRAIT_NETWORK_TUNNEL,
+                        physnet_trait_mappings[device]]
+            else:
+                # Just the physical interface.
+                return [physnet_trait_mappings.get(device)]
+
         rp_traits = []
-        tunnelled_trait_mappings = {
-            self._rp_tun_name: n_const.TRAIT_NETWORK_TUNNEL}
+        physical_bridges = {br for brs in self._device_mappings.values() for
+                            br in brs}
         physnet_trait_mappings = {}
         for physnet, devices in self._device_mappings.items():
             for device in devices:
                 physnet_trait_mappings[device] = place_utils.physnet_trait(
                     physnet)
+
         vnic_type_traits = [place_utils.vnic_type_trait(vnic_type)
                             for vnic_type
                             in self._supported_vnic_types]
@@ -221,8 +237,8 @@ class PlacementState(object):
                 self._driver_uuid_namespace,
                 self._hypervisor_rps[device]['name'],
                 device)
-            traits = [physnet_trait_mappings.get(device) or
-                      tunnelled_trait_mappings[device]]
+            traits = _get_traits(device, physical_bridges,
+                                 physnet_trait_mappings)
             traits.extend(vnic_type_traits)
             rp_traits.append(
                 DeferredCall(
diff --git a/neutron/tests/unit/agent/common/test_placement_report.py b/neutron/tests/unit/agent/common/test_placement_report.py
index 26c41de20b5..8b108b971df 100644
--- a/neutron/tests/unit/agent/common/test_placement_report.py
+++ b/neutron/tests/unit/agent/common/test_placement_report.py
@@ -15,6 +15,8 @@
 from unittest import mock
 import uuid
 
+from oslo_config import cfg
+
 from neutron.agent.common import placement_report
 from neutron.common import _constants as n_const
 from neutron.conf.plugins.ml2 import config as ml2_config
@@ -243,6 +245,48 @@ class PlacementStateTestCase(base.BaseTestCase):
              {'CUSTOM_VNIC_TYPE_NORMAL'}],
             actual_traits)
 
+    def test_deferred_update_resource_provider_traits_shared_rp(self):
+        import uuid
+        self.kwargs.update({
+            'device_mappings': {
+                'physnet0': ['eth0'],
+            },
+            'rp_bandwidths': {
+                'eth0': {'egress': 1, 'ingress': 1},
+            },
+            'supported_vnic_types': ['normal'],
+        })
+        cfg.CONF.set_override('tunnelled_network_rp_name', 'eth0', group='ml2')
+        state = placement_report.PlacementState(**self.kwargs)
+
+        for deferred in state.deferred_update_resource_provider_traits():
+            deferred.execute()
+
+        expected_calls = [
+            # uuid below generated by the following command:
+            # uuid -v5 '00000000-0000-0000-0000-000000000001' 'fakehost:eth0'
+            mock.call(
+                resource_provider_uuid=uuid.UUID(
+                    '1ea6f823-bcf2-5dc5-9bee-4ee6177a6451'),
+                traits=mock.ANY),
+
+            # uuid -v5 '00000000-0000-0000-0000-000000000001' 'fakehost'
+            mock.call(
+                resource_provider_uuid=uuid.UUID(
+                    'c0b4abe5-516f-54b8-b965-ff94060dcbcc'),
+                traits=mock.ANY)]
+        self.client_mock.update_resource_provider_traits.assert_has_calls(
+            expected_calls)
+
+        # NOTE(bence romsics): To avoid testing the _order_ of traits.
+        actual_traits = [set(args[1]['traits']) for args in
+            self.client_mock.update_resource_provider_traits.call_args_list]
+        self.assertEqual(
+            [{n_const.TRAIT_NETWORK_TUNNEL, 'CUSTOM_PHYSNET_PHYSNET0',
+              'CUSTOM_VNIC_TYPE_NORMAL'},
+             {'CUSTOM_VNIC_TYPE_NORMAL'}],
+            actual_traits)
+
     def test_deferred_update_resource_provider_inventories_bw(self):
         self.kwargs.update({
             'device_mappings': {