Composting is basically a necessary action, whether situated in an urban or rural location. Since it does not include animal products and byproducts being broken down, there should not be significant trouble with critters wanting their share. A few select items are alright like eggshells but dairy and meat products are a no-no as they throw off the most ideal soil nutrient content and composting process. Animal feces (i.e. from your pets or farm animals) are of course great fertiizer but from what I understand are best to keep separately from your decomposing organic materials. Think about where this eventually rich soil will end up - for many the answer is in the garden - in your piece of earth - in your produce - and in you!
-good drainage -medium sunlight exposure -close to kitchen -away from wind
-away from wooden structures as it causes rotting
The links below should provide you with what you need to know including a list of compost friendly materials! Get ready to fertilize and produce rich garden material the organic and sustainable way.