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                                                                     Exhibit 4.4

                             STOCK OPTION AGREEMENT

          THIS AGREEMENT made and entered into as the _____ day of January,
1997 (the "date of grant") by and between RENT-WAY, INC., a Pennsylvania
corporation (the "Company"), and DAVID COLEMAN (the "Optionee").

                                  WITNESSETH:

          WHEREAS, pursuant to the terms of that certain Stock Purchase
Agreement, dated as of January __, 1997 by and among the Optionee, the Company
and Bill Coleman TV, Inc. (the "Purchase Agreement"), the Company is granting
the Optionee an option to purchase 25,000 shares of authorized Common Stock of
the Company;

          NOW, THEREFORE, in consideration of the premises, the mutual promises
and representations contained in this Stock Option Agreement, and intending to
be legally bound, the parties agree as follows:

          1.   STOCK OPTION. The Company hereby grants to Optionee an option to
               purchase from it, upon the terms and conditions set forth
               herein, an aggregate of 25,000 shares of authorized Common Stock
               of the Company (the "Option").

          2.   TERMS OF STOCK OPTION. The right to purchase stock pursuant to
               this Option is subject to the following terms, conditions and
               covenants:

               (a)  The option price is $8.875 per share, being the fair market
                    value of the Common Stock of the Company on December 19,
                    1996 (the "Option Price").

               (b)  The Option may be exercised in whole or part at any time or
                    from time to time for the amount vested within a five (5)
                    year period from the date of grant.

               (c)  In case of death or disability of Optionee, the Option may
                    be exercised by his duly authorized legal representative or
                    by the person or persons who shall have acquired the Option
                    by bequest or inheritance.

               (d)  The Option Price shall be payable to the Company upon the
                    exercise of the Option in cash, by certified check or by
                    wire transfer.

          3.   RIGHTS AS SHAREHOLDER. The Optionee shall have no right as a
               shareholder with respect to any shares covered by this Option
               until the date of issuance of a stock certificate to him for the
               shares, which shall occur no later than the fifth business day
               after exercise of the Option. No adjustment shall be made for
               dividends (ordinary or extraordinary, whether in cash,
               securities or other property) or distributions or other rights
               for which the record date is prior to the date a stock
               certificate is issued, except as provided in Section 4, below.


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          4.   RECAPITALIZATION. Subject to any required action by the
               shareholders of the Company, the number of shares of stock
               issuable upon exercise of the Option and the exercise price per
               share, shall be appropriately adjusted for any increase or
               decrease in the number of issued shares of Common Stock of the
               Company resulting from the subdivision or consolidation of
               shares or the payment of stock dividends (but only on the
               stock).  Subject to any required action by the shareholders, if
               the Company shall be the surviving Company in any merger or
               consolidation, each outstanding option shall pertain to and
               apply to the securities to which a holder of the number of
               shares of stock subject to the option would have been entitled.
               A sale of all of the shares of Common Stock of the Company
               ("Stock Sale"), a dissolution or liquidation of the Company or a
               merger or consolidation in which the Company is not the
               surviving company shall cause each outstanding option to
               terminate, provided that each Optionee shall, in such event,
               have the right, immediately prior to such dissolution or
               liquidation or merger or consolidation in which the Company is
               not the surviving company, to exercise the option in whole or in
               part, except as otherwise provided in this Agreement. The
               Company shall mail to the Optionee notice of any such Stock
               Sale, dissolution, liquidation, or merger or consolidation at
               least ten (10) days prior to such event.

               To the extent that the foregoing adjustments relate to stock or
               securities of the Company, such adjustments shall be made by the
               Company's Board of Directors acting in good faith, whose
               determination in that respect shall be final, binding and
               conclusive.

               Except as expressly provided in this Section 4, the Optionee
               shall have no rights by reason of an increase or decrease in the
               number of shares of stock of any class or by reason of any
               dissolution, liquidation, merger or consolidation or spin-off of
               assets or stock of another company, and any issue by the Company
               of shares of stock of any class, or securities convertible into
               shares of stock of any class, shall not affect, and no
               adjustment by reason thereof shall be made with respect to, the
               number or price of shares of Common Stock subject to this
               Option.

               The grant of this Option shall not affect in any way the right
               or power of the Company to make adjustments, reclassifications,
               reorganizations or changes of its capital or business structure
               or to merge or to consolidate or to dissolve, liquidate or sell
               or transfer all or any part of its business or assets.

          5.   INVESTMENT PURPOSE. This Option is granted on the condition that
               any purchase of stock covered by the Option shall be for
               investment purposes, and not with a view towards resale or
               distribution. Any shares issued pursuant to the Option shall be
               restricted and shall not have been registered under the
               Securities Act of 1933, as amended (the "Securities Act"). Such
               shares may not be resold without registration with the
               Securities and Exchange Commission unless, in the reasonable
               opinion of counsel for the Company, such registration is not
               required under the Securities Act or any other applicable law,
               regulation, or rule of any governmental agency, national
               securities exchange, or national securities association. All
               certificates for Common Stock issued by the Company pursuant to
               this Agreement, except shares registered under the Securities
               Act, shall contain the following statement when issued:

                    "The securities represented by this certificate have not
                    been registered under any applicable federal or state
                    securities acts in reliance upon exemptions under those
                    acts. These securities may not be transferred unless the
                    Company receives a


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                    satisfactory opinion of counsel that such transfer will not
                    violate any applicable securities laws."

          6.   Miscellaneous.

               (a)  The Company shall at all times reserve and keep available
                    for issuance the number of authorized shares of its Common
                    Stock necessary for the purpose of issuance upon exercise
                    of this Option, and such shares shall at no time have an
                    aggregate par value in excess of the applicable option
                    price for such shares.

               (b)  If the Board of Directors of the Company shall declare any
                    dividend or other distribution on its Common Stock except
                    out of earned surplus or net profits or by way of a stock
                    dividend payable on its common stock, the Company shall
                    mail notice thereof to the Optionee not less than 30 days
                    prior to the record date fixed for determining shareholders
                    entitled to participate in such dividend or other
                    distribution and the Optionee shall not participate in such
                    dividend or other distribution or be entitled to any rights
                    on account or as a result thereof unless and to the extent
                    that this Option is exercised prior to such record date.

               (c)  Fractional shares shall be issued upon the exercise of this
                    Option in any case where the Optionee would be entitled to
                    receive a fractional share upon such exercise.

               (d)  The Company covenants and agrees that the shares of stock
                    represented by each certificate for its Common Stock to be
                    delivered on the exercise of this Option will, at the time
                    of such delivery, be validly issued and outstanding and be
                    fully paid and nonassessable. The Company further covenants
                    and agrees that it will pay when due and payable any and
                    all federal and state issuance or transfer taxes that may
                    be payable in respect of this Option or any common stock or
                    certificates issued thereunder. The Company shall not,
                    however, be required to pay any tax which may be payable in
                    respect of any transfer involved in the transfer and
                    delivery of stock certificates in the name other than that
                    of the Optionee, and any such tax shall be paid of the
                    Optionee at the time of presentation.

               (e)  The right to exercise this Option shall not be suspended
                    during any period that the stock transfer books of the
                    Company for its Common Stock may be closed. The Company
                    shall not be required, however, to deliver stock
                    certificates upon such exercise while such books are duly
                    closed for any purpose, but the Company may postpone the
                    delivery of such certificates until the opening of such
                    books. In such case, the certificates shall be delivered
                    promptly after the books are opened.

               (f)  This Agreement shall be binding upon the parties, their
                    heirs, legal representatives, successors and assigns.

               (g)  Any and all notices, designations, consents, offers and
                    acceptances or other communications provided for shall be
                    given in writing by registered mail, which shall be
                    addressed, in the case of the Company, to the principal
                    office, and in the case of the Optionee, to his residence
                    or such other address as may have been designated by him.


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               (h)  The invalidity or enforceability of any particular
                    provision of this Agreement shall not affect the other
                    provisions, and the Agreement shall be construed in all
                    respects as if such invalid or unenforceable provision or
                    provisions were omitted.

               (i)  The Agreement shall be governed by and construed in
                    accordance with the laws of the Commonwealth of
                    Pennsylvania.

         IN WITNESS WHEREOF, the Company has caused this Option Agreement to be
signed by its President, and Optionee has hereunto set his hand and seal.

OPTIONEE                                     RENT-WAY, INC.

/s/ David Coleman                            By: /s/ William E. Morgenstern
David Coleman                                    William E. Morgenstern
                                                 President


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                    EXERCISE OF STOCK OPTION AND DECLARATION

         Pursuant to the provisions of the Option Agreement entered into as of
January __, 1997 between Rent-Way, Inc. (The "Company") and the undersigned as
Optionee. I hereby exercise the Stock Option to the extent of ______ shares of
Common Stock of the Company. I hereby make payment as follows:

          o         Cash/certified check in the amount of $_____________.

          o         Wire transfer in the amount of $________________________.

         I have been advised that these shares may not be sold or offered for
sale in the absence of an effective registration statement as to the securities
under the Securities Act of 1933, as amended, or my delivery to the Company of
an Opinion of Counsel satisfactory to the Company that such registration is not
required.

Date: ___________________, 199_                   _________________________
                                                  Optionee (Signature)

Social Security Number:                           Address:

___________________________________               _________________________

                                                  _________________________

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