A generation which expects the latest and greatest model is choosing to rent, rather than buy, technology, according to national leader in white goods rentals, franchise network Mr Rental.

Mr RentalÕs general manager, Alan Payne, says “Those of us who fall in the Baby Boomer and Gen X groups have always been prepared to work hard, save up for our big ticket items, and then buy whatever make or model we can afford when we have enough saved.

“However, among Gen Y is the expectation that they should be able to have the latest and greatest technology when they want or need it, regardless of cost. I have certainly noticed this trait among my own sons.”

According to Payne, Mr Rental franchised stores across Australia and New Zealand which rent fridges, TVs, washers, dryers, televisions, sound systems, game consoles and even furniture are experiencing an expanding demographic of clients.

“When the business was founded in 1991 on Bribie Island, our customers had largely been people who are on fixed incomes and struggle to be able to afford to buy big ticket items in the near future,” he reveals. “While this group certainly still comprises the majority of our customer base, we are now seeing a very strong leaning toward younger individuals, both students and professionals, who donÕt ever intend to buy their technology or appliances. They opt to rent them instead, so that they donÕt have to compromise on the model.”

Payne believes renting technology and appliances meets another characteristic of this generation, by offering free and immediate upgrades to the latest technology.

“Technology changes and upgrades so fast these days, and Gen Y donÕt want to feel like they are missing out; they always want to have the latest technology, and often their professional, study and social networks require it. Constantly having to buy the latest laptop, games console or TV is costly and impractical. Many rental appliance companies, such as Mr Rental, enable upgrades to the latest technology or model at any time, with no fee to change the contract.”

Another advantage of busy Gen Ys to rent, rather than buy, is the fact that they donÕt have to worry about looking after repairs or issues with the items.

“Our stores will either fix the problem or supply another item within 24 hours of being notified, and this suits a generation that expects an immediate solution.”