Proper security deposit amount

[Lee Brewer]

Hi everyone, 

I am about to list my very first investment property for rent. I'm curious as to the proper amount to charge for a security deposit. I was thinking 1 months rent, which is $850. Is that too much? Also, any thoughts on the best way to do pet deposit? I was considering doing no pets deposit but having an increased rent of $45 per month for pet owners. Is this a good idea?

Thanks,

Lee