UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549




                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934




                                 August 13, 2002
                                 Date of Report



                                 Rent-Way, Inc.
             (Exact name of registrant as specified in its charter)




       Pennsylvania               000-22026                 25-1407782
  ---------------------     ----------------------    ----------------------
   (State or other         (Commission File Number)  (IRS Employer
      jurisdiction of                                     Identification No.)
           corporation)





One RentWay Place, Erie, Pennsylvania                         16505
- --------------------------------------------------------------------------------
(Address of principal executive offices)                    Zip Code



Registrant's telephone number, including area code:        (814) 455-5378
                                                     --------------------------











Item 5.           Other Events


Rent-Way Conference Call Highlights Improving Performance
o        Cost of Sales Improves 2 Percentage Points from March Quarter, 4.5
         Percentage Points Year-over-Year

o        Debt Drops $41 Million versus Year Ago

o        Company Anticipates $100 Million Two-Year Debt Reduction by
         September 30

ERIE, Pennsylvania. - August 9, 2002: Rent-Way Inc. (NYSE:RWY) today issued a
summary of the conference call it held on August 7 in connection with the
release of its results for the quarter ended June 30, 2002. During that call
with investors, Rent-Way discussed its solid improvement in profitability and
EBITDA, continued debt reduction, and its confidence in achieving its planned
refinancing.

William McDonnell, vice president-Finance and CFO, stated, "Investors know that,
while we are paying a 15 percent interest rate, measuring Rent-Way's health and
progress by the fluctuation of our stock price or our reported bottom line is
shortsighted. Our senior management team will consider a variety of prudent
approaches to refinancing. We will select the one that best balances reducing
the cost of capital with our need for liquidity to grow the business."

During the call, Mr. McDonnell made the following observations:

o         Cost of sales improved 2 percentage points versus the March quarter
          level and 4.5 percentage points versus the year-earlier period,
          reflecting the company's continued emphasis on controlling expenses,
          improving merchandise quality and upgrading the sales mix. Cost of
          sales can improve further.

o         Same-store sales trends have improved on a sequential basis.

o         Gross weekly rental revenue, which measures the sales productivity of
          Rent-Way stores at the unit level, is up 4 percent on
          a year-to-date basis versus fiscal 2001.

o         Merchandise turns, which reflect the average profitability of each
          item on rent, are up considerably over year-earlier levels.

o         Debt outstanding has fallen by $41 million over the last year.
          Rent-Way has targeted a $100 million reduction in debt by September
          30, 2002 versus September 30, 2000 levels.

o         Rent-Way has sufficient capital to operate its business and to finance
          the normal increase in inventory levels for the holiday season. Its
          store managers have access to enough merchandise to meet customer
          demand.

William Short, newly appointed senior vice president-Operations, stated, "Our
strategic operating plan will be disciplined. It will revolve around the
objectives of maximizing shareholder value and growing the business over the
next several years. I can assure you that my number one objective for 2003 is to
prepare our people to do what has to be done to grow this company profitably for
years to come."

He added, "We will continue to compete on the highest level when it comes to
recruiting and retaining the best players in our industry. Providing a quality
work environment, superior training and defining a clear path of advancement for
everyone will be a part of everything we do. We have an award-winning employee
inclusion initiative. When we conducted an employee satisfaction survey of our
store and regional managers, over 90% said they planned on working here next
year and would recommend RentWay as a place to work to their friends and
relatives. Those numbers are very strong, and they demonstrate the great job we
have done in maintaining a positive esprit de corps through a difficult time."

Rent-Way is the second largest operator of rental-purchase stores in the United
States. Rent-Way rents quality name brand merchandise such as home entertainment
equipment, computers, furniture and appliances from 1,062 stores in 42 states.

This news release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements contain the
words "projects", "anticipates", "believes", "expects", "intends", "will", "may"
and similar words and expressions. Each such statement is subject to
uncertainties, risks and other factors that could cause actual results or
performance to differ materially from the results or performance expressed in or
implied by such statements. The forward-looking statements in this news release
that contain projections of the company's expected financial performance and
other projections regarding future performance are inherently subject to change
given the nature of projections and the company's actual performance may be
better or worse than projected. Uncertainties, risks and other factors that may
cause actual results or performance to differ materially from any results or
performance expressed or implied by forward-looking statements in this news
release include: (1) the company's ability to normalize and control its
operating expenses and to continue to realize operating efficiencies, (2) the
company's ability to develop, implement and maintain adequate and reliable
internal accounting systems and controls, (3) the company's ability to retain
existing senior management and to attract additional management employees, (4)
general economic and business conditions, including demand for the company's
products and services, (5) general conditions relating to the rental-purchase
industry, including the impact of state and federal laws regulating or otherwise
affecting the rental-purchase transaction, (6) competition in the
rental-purchase industry, including competition with traditional retailers, (7)
the company's ability to make principal and interest payments on and to
refinance on more favorable terms its high level of outstanding debt, (8) the
outcome of the class action lawsuit and the shareholder derivative lawsuit
commenced against the company and (9) the outcome of the continuing
investigations involving the company commenced by the SEC and the U.S.
Department of Justice. A discussion of other risk factors that may cause actual
results to differ from the results expressed in or implied by these
forward-looking statements can be found in the company's periodic filings with
the SEC. The company disclaims any duty to provide updates to the
forward-looking statements made in this news release.




                                   SIGNATURES


Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.





                                        Rent-Way, Inc.
                              ----------------------------------
                                        (Registrant)




       August 13, 2002                      /s/William A. McDonnell
- --------------------------------      ------------------------------------------
             Date                                   (Signature)
                                               William A. McDonnell
                                      Vice President and Chief Financial Officer




       August 13, 2002                        /s/John A. Lombardi
- --------------------------------      ------------------------------------------
             Date                                   (Signature)
                                                 John A. Lombardi
                                       Chief Accounting Officer and Controller