Advertised rent too low

[Jeff Caravalho]

Apparently I advertised my rental too low because I have 80 people interested in 2 days.    I advertised $1700 but I'm at least $50 low for sure, maybe $100 or even $200.  How should I approach this from a legal standpoint?  Can I just update my add (zillow) with the higher price?  Is it ok to have a bidding war for a rental?  Good problem to have, but I'm not sure of the best way to inform everyone that I'm low and need to increase, or if I even need to.  Mostly legal concerns, don't want to be surprised by a "professional" tenant!  Thx for your input.

[Philip Willis]

Bad time of year to be getting greedy. Especially over 50 bucks/month. If you aren’t sure it’s 50 or 200 then sounds like there may be even more things that you don’t know about landlording which will then take even more of your time to figure out, which may then draw out a vacancy even more.

If you already have applicants I would honor the original rent.

Remember you can always raise rents later.

If you repost with a higher rent and then it takes forever to find a highly qualified tenant you’ll be kicking yourself. I always try to ask myself “am I being greedy?” When I look back at mistakes I can usually say that I was being greedy.