Fraternities at the University of British Columbia are taking advantage of the 2010 Olympic Games in Vancouver by renting out their houses to a visiting group.

Six buildings in the Fraternity Village and one frat house located on campus have been leased to a single group that is providing venue security during the Games.

The Fraternity Village is located near the Thunderbird Arena, an Olympic venue for some of the hockey and sledge-hockey games.  Increased security around the arena has restricted access to the area and blocked roads.

The decision made by the Strata Council that administers Fraternity Village has garnered some media attention as fraternity members renting those houses are being forced to find alternate living arrangements during that period.

Strata chairperson Glen Bury said most of the print coverage on this issue has been inaccurate and unwarranted. 

“We believe that the real story is a positive one, not negative,” Bury said.

The fraternities worked through a full service agency to find a tenant for the 176 rooms and could not disclose the price of the rental. 

According to a statement released by the council, the opportunity “will bring a significant financial benefit to the various housing associations/societies, their associated members and residents.”

According to Bury, rent will be subsidized for fraternity members over the next few months, and will be a quarter of what they have already paid.

The council also stated that members were consulted before the fall term through their individual house representatives, and by early November the issue “should have been adequately debated by all membership groups.”

Scott Macrae, a spokesperson for UBC, said the fraternities arrived at the decision on their own consensus.

The university, which has extended its spring break to two weeks, is not accommodating any of the displaced members of the fraternities, and will not rent out any of their residences for the duration of the Games.

“We’re right in the middle of the school year and we don’t think it would be fair to the students,” said Macrae. “It’s not necessary.”

Not all of the housing on the university’s land is for students, and according to Macrae, while there are rental accommodations, the majority of non-student housing are condominiums built on land leased to developers.

On the craigslist website for Vancouver, several housing ads for temporary rentals during the Olympics have put the UBC campus as their location.

However, the university said it is not aware of any students also trying to profit from the Olympics by sub-letting their residence, which is prohibited in their rental contract.