Lake Forest
Property Management
Owning a rental property in Lake Forest, California can be an extremely lucrative investment when done right. But, managing a rental property in Lake Forest can be time-consuming and is often quite challenging. That’s why we founded Good Life Property Management—to take the stress of ongoing management off your shoulders. We are committed to making it easy for landlords and owners to rent their Lake Forest properties. We handle everything from tenant selection and ongoing maintenance to rent collection and lease management. We make owning rental properties in Lake Forest easy.
No Eviction Guarantee
If we have to evict a tenant we placed, for non-payment of rent, we will pay for the eviction up to $3,000 (which usually covers all court costs and attorney’s fees)! We will also find a new tenant for free.
Good Pet Guarantee
At no additional cost to the owner, we will reimburse damages caused to the home above wear and tear up to $3,500 total for pet damage. Lake Forest property management has never been so easy.
Money Back Guarantee
Our Lake Forest Property Management Services
- Advertisement
- 3D Tour
- Market research
- Quality photography
- Tenant screening
- Rent collection
- Direct deposits
- Lease management
- 24/7 maintenance
- Eviction coverage
- Monthly statements
- Property inspections
Overview
About Lake Forest
An affluent, beautiful city nestled in the Saddleback Valley Mountains, Lake Forest is a master planned community with a population of 85,858. The city has two man-made lakes, 27 public parks, and two county parks—Whiting Ranch Regional Wilderness Park and Heritage Hill Historical Park. Whiting Ranch is spread across 2,500 acres of riparian and oak woodland canyons and grassland hills featuring scenic rock formations like Red Rock Canyon. Heritage Hill Historical Park is located on 4.1 acres and includes four fully restored historical buildings from the 1860s to 1900s. If you’re looking for an Orange County city for nature lovers, you’ve found the perfect place in Lake Forest.
Located just nine miles from the coast and near Interstate 5, Interstate 405 and the 241 Toll Road, it’s easy to access popular locations in the surrounding areas including Los Angeles and San Diego. It also boasts a low crime rate, excellent school district, and a consistently mild climate all year round. These factors make the area desirable for families, young professionals, and retirees alike.
Lake Forest is home to an annual summer concert at Pittsford Park that can’t be missed. And the farmer’s market is a lively venue where you can buy local produce and products from farmers and other vendors. For more information on Lake Forest, visit the city’s official website.
Why owning rental property in Lake Forest is a good investment
Lake forest is often referred to as one of the best cities to live due to its low crime rate, excellent schools, and beautiful natural attractions. It’s a family-friendly community with lots of amenities and quiet neighborhoods.
This planned community has something for everyone—lots of green space, hiking trails, delicious local restaurants, and easy access to major city centers. The neighborhoods vary but offer everything from great views to big lot sizes to single-family homes, condominiums, townhouses, and semi-detached homes.
Lake Forest is located in the Saddleback Valley Unified School District and has top-rated schools, such as the highly ranked El Toro High School, Oxford Preparatory Academy – Saddleback Valley, Beacon Park, and Serrano Intermediate. The University of California, Irvine is located only 6 miles from Lake Forest. Its deep commitment to education makes Lake Forest a great place for young families to settle.
How much does Lake Forest property management cost?
Every Lake Forest property manager has their own unique fee structure, which can vary significantly from other Lake Forest property management companies. At Good Life Property Management, we offer house, condo, and/or 2-4 units property management for an 8% monthly management fee. Alternatively, we provide multi-family (5-15 units) property management for a 6% monthly management fee. In addition to monthly management fees, we charge a leasing fee (which is 25% of one month’s rent), a $150 annual inspection fee, and a $195 lease renewal fee.
For Non-California residents, the Franchise Tax Board (FTB) requires property managers to withhold a percentage of income from property owners who live out of state as a pre-tax. payment. Our charge is $50/quarter, which covers submitting these payments on your behalf and your annual tax forms. We ensure compliance and timely filings so you can avoid penalties and focus on what matters most. To learn more about our Lake Forest property management services and pricing, please visit our Services and Pricing.
What to look for in a Lake Forest Property Manager
When interviewing Lake Forest property management companies, you want to make sure they offer holistic property management services. For residential properties, we recommend the following services:
- Helping you get the property ready for renting
- Property marketing and advertising
- Showing the property to prospective tenants
- Screening and selecting qualified tenants
- Leasing signing and lease management
- Tenant support and 24-hour emergency maintenance services
- Rent collection and direct deposits services
- General maintenance and annual inspections
- Periodic walkthroughs
- Lease modifications (i.e. adding a pet to the lease)
- Reports, photos and financial statements
- Legal notices to move tenants out
For more information on what to look for in a Lake Forest property manager, check out our Proven Process.
Marketing
How we market your property
We use the most popular online platforms to market your Lake Forest rental property. Through paid syndications, we create listings on websites such as Zillow, Trulia, Hot pads, and 50+ more major rental sites so we can get your rental the most exposure and find the best-fit tenant. Our team will take high-quality professional pictures of your rental and create a high-definition 3D virtual tour. We also write extensive information about your rental, including, amenities, price, community features, and other important living information so we can attract good candidates. Finally, we offer 7-day showing access and support for prospective tenants.
How we help you find the perfect rent price
Our Lake Forest rental property specialists assist you in determining the best rental price for your property by conducting a thorough market analysis. This includes investigating comparable properties in the Lake Forest area, examining current rental market conditions, seasonal fluctuations, and taking into account factors such as your property’s location, size, and condition. Based on this analysis, we will recommend a competitive rental price that will help you attract the right tenants for your property.
Furthermore, our Lake Forest property management services include monitoring the rental market and adjusting the price for each new lease term. That way, we can ensure that your property remains competitive and generates a healthy rental income.
Tenant Screening
The Good Tenant Screening
At our Lake Forest property management company, we understand the importance of finding the right tenant. That’s why we’ve built our Good Tenant Screening process. This thorough and comprehensive process ensures that we find tenants who are reliable, responsible, and will take care of your property as if it were their own. Our screening process includes credit checks, background checks, previous landlord references, and more. We take the stress out of finding qualified tenants and give you peace of mind knowing that your property is in good hands.
- Income verification
- Credit report check
- Criminal background check
- Pet screening
- Eviction history
- Rental history
Rent Collection
We direct deposit rent to your bank account
We use online rent payment portals, automated reminders, and late payment penalties to make sure that rent is paid on time. We also have a dedicated team who will follow up with tenants who are late on their rent to ensure that payments are received as soon as possible. With us as your Lake Forest property management company, you can rest easy knowing that rent collection is in good hands and that you’ll always be paid on time.
Maintenance
We’ve got your property maintenance covered
There are so many benefits to a well-maintained property; they rent faster, keep tenants happy, and have low turnover. That’s why we’re invested in quality maintenance and inspections of your property. Over the past 10 years, we’ve built great relationships with the best vendors in Orange County, so we can make sure your property receives affordable and quality care. We also offer 24-hour emergency maintenance services to ensure your tenants are always taken care of. Lake Forest property management has never been so easy.
Tenant Placement Services
For self-managing landlords
Are you a self-managing landlord looking for help finding the right tenant in Lake Forest, CA? Our flat-rate tenant placement/lease-only service is designed for you!
We take care of everything—from pricing your rental and marketing your property to showing the unit, conducting background checks, preparing legal forms, and coordinating introductions between you and your tenant.
Let us handle the hard work while you stay in control. Ready to fill your rental? Let’s talk. Schedule your free consultation today.
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Agent Referrals
Earn money through our Agent referral program by referring clients who need Lake Forest property management services.
We make owning rental property easy
Renting your property shouldn’t be a hassle. It should give you a greater abundance of time, money, and energy. We’ve developed a team of A-Players who have made this a reality for over 1,000 property owners.
We can do the same for you.
Home Prices
in Lake Forest
Lake Forest is just a short drive from major Orange County cities like Irvine, Costa Mesa, and Santa Ana. This central location makes it easy for residents to enjoy everything from beaches and parks to shopping centers and theme parks. Because of this, the demand for rental properties tends to stay high in Lake Forest. The two lakes in the city, Lake Forest Beach and Tennis Club and Sun and Sail Club, offer opportunities for water sports and activities without heading the albeit short drive to the coast. Lake Forest is a popular place to rent because of its low crime rate and excellent school district.
Pros of Investing in Lake Forest
Lake Forest is a safe city with reputable schools, which is a major selling factor for families looking for a place to rent in Orange County. There is a high quality of life in Lake Forest thanks to the recreational areas, outdoor spaces, shopping centers, and dining options. While the real estate market can be somewhat volatile, Lake Forest offers stability thanks to the demand from professionals and families looking to rent in the area.
Cons of Investing in Lake Forest
With wonderful areas comes higher initial investments, and this holds true with Lake Forest. You can expect that your initial investment—down payment, closing costs, etc.—will be higher here than in other areas. It’s also a competitive market, so it can be difficult to make your property stand out on the market. Working with a property management company experienced in listing rental properties can help ensure your property gets the attention it deserves.
Home Prices in Lake Forest
These are the year to date stats as of September 2024. For monthly stats, visit Redfin’s Lake Forest, CA Housing Market.
$1,280,000
The median price of a single-family home in Lake Forest
$740,000
The median price of condos/townhomes in Lake Forest
Rental Rates in Lake Forest
These are the 2024 average rent prices in Lake Forest. For monthly stats, visit Zumper.
$5,772/month
The average rent for a 3-bedroom apartment in Lake Forest.
$3,568/month
The average rent for a 2-bedroom apartment in Lake Forest.
$2,959/month
The average rent for one bedroom in Lake Forest.
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