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Fred Glick explains the process of real estate management on Glick Watch. He discusses the three main parts of the rental cycle: showing the property, having it rented, and turning it over when someone moves out. In the first phase, specific forms such as rental applications, lease agreements, and move in/out forms are required. It is important to verify the applicants' age, obtain valid ID, and conduct credit and background checks. Compliance with federal, state, and local laws is crucial in property management.