Colleges and universities across the country are burdened with inefficiently utilized facilities, leading to unnecessary costs, wasted space, and misplaced financial priorities. This policy brief examines the systemic mismanagement of campus facilities and proposes market-based reforms to legislatures and trustees in order to optimize space usage, reduce waste, and refocus universities on their core academic mission. By implementing these reforms, universities can lower costs, improve space utilization, and refocus resources on their primary mission of creating and disseminating knowledge and creative endeavors.