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Fred Glick, of Glick Watch, discusses real estate management and the importance of having a rental application, lease agreement, and move in/move out form. It is essential to require all adults over 18 to apply for the property, obtain valid ID, and conduct credit and background checks. Compliance with federal, state, and local laws is crucial throughout the rental cycle, which includes showing the property, renting it out, and turning it over after a move.