New Lease, No Tenant

[Todd Bullinger]

Hopefully a few of you can shed some light on this situation for me. I've had a property vacant for 1 month and just signed a new lease with what seemed like a good tenant (and he still might be...I did all the proper checks and phone calls) I agreed to give him a 1-2 weeks to get everything in order since his family was still in Michigan and he was working here in Ohio as he just got transferred. He's supposed to be moving in on May 15th but I haven't received his deposit or first payment. I also am not giving him the keys until those payments are made.

Now, I have another family from Michigan trying to get their son a place for school and have called me 5 times in the past 9 days about it. They are extremely interested and they know and understand the situation with the currently signed lease and just want to know if they need to continue looking.

My question is what obligation do I have if no security deposit has been made, no rent has been paid, no contact has been made, no keys picked up, etc. Is there a time frame where I can say, "time's up...moving on...no money exchanged...etc?" How long do I legally have to wait before this type of "eviction" takes place?