There are three basic things to consider when composting with redworms. They are temperature, moisture, and pH. Redworms breed best in temperatures ranging from 55 degrees F. to 75 degrees F. They can survive at temperatures as low as 40 and as high as 80. You would need to pick a location that would ensure appropriate temperatures. If a bin gets too hot, watering it helps.
Since worms get oxygen from water through their skin, it is important to monitor moisture conditions. If it's too dry, the worms can't breathe. If it's too wet, they drown. A good measure of moisture that most worm farmers use is to take a handful of the bedding and squeeze it. If droplets of water squeeze out between your knuckles, the moisture is just right. No droplets, too dry. Streams of water, too wet.
If you are using household waste, you will want to monitor the pH. Worms like a neutral pH, erring on the acidic side. You will want to balance acidic foods (e.g., citrus) with alkaline foods (e.g., eggshells). Most of your fruit and vegetable scraps, tea bags, coffee grounds, eggshells, shredded newspaper and dry leaves would be good food for your worms. Avoid meats, dairy products, and animal excrement as they attract rodents and create unpleasant odors. If you bury the food, your bin should be odor-free.
Rubbermaid tubs work very well as bins. Be sure to provide drainage (a screened hole in the bottom) and air. The surface area is more important than depth, since redworms live in the upper six to eight inches of the soil. One square foot of surface area can support up to about 4000 worms (four pounds). A good size for a home bin is one foot high, two feet wide and three feet long. A bin this size would probably require about two pounds of worms to get started. A smaller bin (the size of some Rubbermaid tubs) could be started with one or two pounds of worms.