Here in lies the Problem.
While many Schools are building Greek Housing, the per bed cost is not really figured in for a Not Full House.
With This type of Contract, it is a hell of a way to force Greeks off of Campus.
Granted there are Parlor Fees for non Housed Members, that still does not cover the cost of filling a bed to pay the rent.
The Schools Should remember that with New Housing, that payoffs are not going to come in with a full head of steam and pay off these New Housing Units immediately, it is going to take time, trial and error to keep GLOs alive and functioning.
It sounds like they have Housing Management who are in for the quick fix and not the long haul.
Just look around at other Schools with the same situation. UCT, at Murfreesboro for one.