I would definatly check the rental rates based upon size, location and amenities the local rentals have. I have rented out a few of my clients houses while they are trying to sell them and in Charlotte, usually 1 month rent up front and 1 month rent as a security deposit with a non refundable pet fee if you choose to allow pets. There's usually an application fee to cover the cost of the credit check and the time it takes you to call referances.
I have also seen landlords to be very flexable with their tenants in these hard times and allow a few months rent to be higher so they don't have to come up with the full security deposit right away. When that amount is reached, rent falls to the agreed upon rate.
It it completely up to you as you are the landlord, just be aware of the houseing laws.
Every area is different. I ususally charge one months rent and a deposit equal to two months rent. Always make sure you get a detailed rental application, proof of id and run their credit. You can also do a rential survey to see what the comparable rent is in the area.