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Fred Glick from Glick Watch discusses real estate management and the importance of having a thorough rental application process. He emphasizes the need for documents like lease agreements, move in/move out forms, and conducting credit and background checks on all applicants. Glick highlights the three main parts of the rental cycle: showing the property, renting it, and turning it over after a tenant moves out. Compliance with federal, state, and local laws is crucial in property management.