What should I charge for a Security Deposit?

[Erica Cauley]

The completion of my first rehab is 3 weeks away. I have my rent set but I am still unsure of how much I should charge for a Security Deposit. I have seen different takes on this. First and last months rent. First and last months rent plus a security deposit. A security deposit the same amount as the rent. A Security Deposit $25-$50 over the rent amount. $500 flat Security Deposit. What should I be collecting from a new tenant and why do you think this. I would really appreciate the assistance and clarity. Thank you!!