Employment of Personnel. Manager shall use its diligent efforts to investigate, hire, pay, supervise and discharge the personnel necessary to be employed by it to properly maintain, operate and lease the Property, including without limitation a property manager or business manager at the Property. Such personnel shall in every instance be deemed agents or employees, as the case may be, of Manager. Owner has no right of supervision or direction of agents or employees of Manager whatsoever. All Owner directives shall be communicated to Manager’s regional manager or vice president overseeing the Property. Manager agrees to obtain and keep in effect fidelity insurance in an amount not less than Five Hundred Thousand Dollars ($500,000) with respect to Manager and all personnel of Manager who handle or who are responsible for handling Owner’s monies. Manager may allow its employees who work at the Property and provide services to the Property after normal business hours to reside at the Property for reduced rents in consideration of their benefit to Owner and the Property, provided such reduced rents are reflected in the Operating Budget and comply with applicable laws and regulations.
Appears in 10 contracts
Samples: Property Management Agreement (Steadfast Apartment REIT III, Inc.), Property Management Agreement (Steadfast Apartment REIT III, Inc.), Property Management Agreement (Steadfast Apartment REIT III, Inc.)
