A good problem to have.... Too many people interested in a rental

[Marlon Long]

Houston we have a problem. We recently listed a property that we rehabbed as a BRRRR deal. I listed just yesterday afternoon and have received atleast 20 contacts regarding seeing the property. I researched the area well and listed the property for a good market rent, but now I'm thinking I should have listed it for more. If I have multiple people vying for this property, is it legal to increase the asking price for the rent the same way you would do with a sale?

Thanks for the responses in advance.

[Thomas S.]

Yes you have listed it too low and you would be best to remove the listing and relist at much higher rate so that you can reduce it later if necessary. Wait a week or so before relisting and put it back on the market available for December 1st. It is now way too late to get quality tenants for November.

Simply inform all interested parties that there was a error in the listing and it is being withdrawn.