How Do We Calculate Fair Market Value for Rentals?

It's Not Magic, but It's More Than Math

Determining the fair market value (FMV) of a rental property is crucial to getting it rented quickly and to a quality tenant. Calculating an accurate fair market rent ensures that rental rates are competitive, attracting the right tenants while maximizing returns for our clients. When performing a rental analysis for our clients or agents, we consider a wide range of factors, but the most important are listed below:


Identify Comparable Units:

The first thing we search for is comparable units. The best matches for calculating FMV are exact model matches in terms of bedrooms, bathrooms, and layout in the same community. However, these kinds of comparable properties cannot always be found. In this case, the search will be expanded to find similar properties, even if they aren't perfect matches. We will then, of course, take any differences into consideration when evaluating our unit.


Analyze Rental Rates:

The next thing we consider is the appropriate rental rate established by the comparable properties we previously identified. However, we do not compare to properties that are currently on the market as “active” listings. We are primarily focused on comparable properties that have recently rented, and factor in how long they were on the market. Although an aggressive rental rate may sound initially more attractive to property owners, any increased income from pushing the rental rate may be cancelled out by lost revenue waiting for a tenant. Overpriced properties tend to stay on the market an average of 45 days longer than their fairly priced counterparts, and time is money!


Consider Seasonal Variations:

After finding a good baseline rental rate for the property, we factor in seasonal variations, as the time of year will affect how aggressive we can be with rental rates. During slower periods, such as the winter and holiday seasons, rental rates are depressed, but during the summer rental rates can be pushed as demand is higher. Knowing when a property will be listed is just as important as any other factors in determining the FMW. Additionally, when rental inventory is high, FMV may be lower due to the additional competition in the market. In contrast, when rental inventory is low, FMV may be higher.


Factor in Unique Features:

Lastly, we consider any distinguishing characteristics of the property in question. This includes any cosmetic or structural upgrades that will not only make it stand out, but potentially garner a higher rental rate. This includes features such as custom flooring and paint, top-of-the-line appliances, pools/spas, solar power, and more. All of these can result in a higher rental rate, and less time on the market.


The rental market is constantly changing, and as we are in it every day, we may be able to provide the most accurate FMV to get properties rented quickly and with high-quality tenants.

Step Into the Shadows: Exploring Las Vegas’ Mob Museum

July 28, 2025
Tucked away in the heart of Downtown Las Vegas, just steps from the flashing lights of Fremont Street, the Mob Museum offers something wildly different than the typical Vegas experience. Officially known as the National Museum of Organized Crime and Law Enforcement, this one-of-a-kind destination invites you to step into the gritty, gripping world of the American mob—and the people who tried to stop it. Housed in a historic 1930s U.S. Post Office and Courthouse—where real mob hearings took place—the building itself sets the tone. This is no ordinary museum. It’s immersive, intense, and at times, jaw-dropping Your journey begins at the top, tracing the rise of organized crime through Prohibition. Real artifacts tell real stories, including the actual bullet-riddled brick wall from Chicago’s infamous St. Valentine’s Day Massacre. As you make your way down each floor, the exhibits dive deeper into how the mob operated, how Las Vegas became a haven for crime families, and how law enforcement fought back - with wiretaps, undercover agents, and televised trials that captivated the nation. One of the museum’s standout features is its fully restored courtroom, where the 1950s Kefauver Hearings were held - bringing mob activity into the public spotlight for the first time. It’s surreal to sit in the very space where America watched the mob be put on trial. Downstairs, visitors can try hands-on exhibits like a police training simulator, or step into a forensics lab to test their CSI skills. But the real hidden gem is in the basement: The Underground, a fully functioning speakeasy and distillery that serves up Prohibition-style cocktails and house-made moonshine. It's a delicious way to end your tour through history. Beyond the drama and intrigue, what makes the Mob Museum truly special is how educational and engaging it is. It’s not just about the mobsters—it’s about the impact organized crime had on American culture, law, and justice. Whether you're a true crime junkie, history buff, or just looking for something different to do in Vegas, the Mob Museum is a must-visit. It’s raw, real, and fascinating from start to finish. L ocation: 300 Stewart Ave, Las Vegas, NV Hours: Daily 9am–9pm Admission: Starts around $35; discounts available for Nevada residents, students, military & law enforcement Don’t Miss: The Underground speakeasy (open later hour s)

800+ 5-Star Reviews and Counting: Why Las Vegas Trusts McKenna Property Management

July 21, 2025
McKenna Property Management is proud to have earned over 800 five-star reviews on Google — real feedback from property owners, investors, agents, and tenants all across Las Vegas who’ve experienced the difference working with us makes. Led by our owner and broker Jenni McKenna, with over 30 years of local real estate experience, we focus on making property management smooth, efficient, and refreshingly personal. We don’t believe in one-size-fits-all service or sending you in circles with automated systems. When you call our office, you’ll get a live person on the phone — not a robot or endless phone tree. Our team is organized into specialized departments, so whether it’s leasing, maintenance coordination, accounting, or HOA coordination, you’re always connected with the right person who knows how to help. That means quicker responses, clearer communication, and less frustration all around. Owners and investors trust us to handle everything from marketing and tenant screening to rent collection and repairs, helping maximize returns without the usual headaches. Agents feel confident referring clients to us because they know we respect their relationships — when it’s time for their clients to buy or sell, we never interfere or poach. Our focus remains solely on providing top-tier property management, while preserving and protecting their business. And tenants enjoy well-maintained homes, easy online systems, and a team that truly listens and responds. At McKenna Property Management, we treat every property like it’s our own and every person like part of our community. If you’re looking for reliable, experienced property management in Las Vegas with real people and real results, we’d love to connect.

Discovering Fergusons Downtown: Vegas’s Creative Heartbeat

July 14, 2025
Tucked at 1028 Fremont Street, Fergusons Downtown is where the spirit of old Vegas meets the creativity of a new generation. Once a mid-century motel, the property has been transformed into a vibrant community hub that pulses with life, art, food, and connection - a must-visit for anyone seeking the authentic soul of Las Vegas beyond the glow of the Strip. Originally the Franklin Motel in the 1940s and later renamed Fergusons Motel in the ’60s, the site was reimagined in 2019 by the late Tony Hsieh’s Downtown Project. What was once a simple roadside motel is now a full city block dedicated to innovation, small business, and creative risk-taking. The former motel rooms have been turned into studios and retail spaces, now home to an eclectic mix of local businesses. You’ll find everything from Neon Cactus Vintage to plantlovers’ haven LV Plant Collective. For foodies, Fergusons delivers with the Vegas Test Kitchen, a rotating lineup of pop-up culinary concepts that keep things fresh. Highlights include Mothership Coffee Roasters (offering everything from vegan pastries to charcuterie), La Monja for ceviche and housemade tortillas, and Hatsumi for seafood and sake with a Japanese twist. Cocktail lovers can settle into F the Bar, a cozy greenhouse-style lounge serving drinks like the hibiscuslavender “Vegas Playground.” At the center of the space is Big Rig Jig—a towering, 50-foot sculpture made from repurposed oil tankers. It’s bold, unexpected, and the perfect metaphor for what Fergusons stands for: turning the ordinary into something unforgettable. The community vibe continues in The Yard, a grassy gathering space that hosts jam sessions, yoga classes, comedy nights, open mics, and weekend markets. Monthly events like the Hey Maker Market and Pour in the Alley spotlight local artisans, performers, and mixologists, making every visit feel new. Fergusons Downtown isn’t just a redevelopment project—it’s a living ecosystem. It’s where artists, entrepreneurs, families, and visitors collide over coffee, cocktails, creativity, and conversation. It’s a place that proves Vegas is more than casinos and clubs; it’s a city full of soul. If you're ready to experience a different kind of Las Vegas—one rooted in community, creativity, and a touch of magic—step into Fergusons and see what’s blooming in the heart of downtown.