How to handle security deposits for rent per room?

[Wilbert Gonzalez]

I'm considering renting a property per room in order to maximize the rental income. It's a large single family house, 5 bedrooms, 2 full baths, kitchen on main level and in basement. However, I've never done a rooming house before and wanted to know the best way to handle security deposits and how they may be applied to damages in the future. I live in CT. Thank you in advance for your responses.