Gary Martin: If you need it, you can probably rent it

Need a high-performance drone for capturing breath-taking aerial shots on your holiday, a statement handbag for that upcoming ball or camping gear for an impromptu weekend getaway?

Why buy, when you can rent?

This is the mindset fuelling “extreme renting”, which is redefining the concept of personal ownership.

Renting used to be limited to homes, cars and formal wear.

Today it extends into nearly every aspect of life and many are fully embracing this flexible lifestyle.

Extreme renting is the natural evolution of the sharing economy, which has already transformed how we think about transportation, accommodation and workspaces.

This trend is not just a response to economic pressures but a fundamental shift in how some of us approach consumption, possession and the concept of ownership.

Those who embrace radical renting choose to lease almost everything they use — from living spaces and wardrobes to the tech gadgets they rely on.

For extreme renters, the guiding principle is clear: the best things in life are meant to be rented, not owned.

Expecting a new addition to the family? Rent baby gear such as bassinets, strollers and maternity wear, ensuring you have everything you need without long-term clutter.

Planning regular outdoor adventures? You can easily rent kayaks, mountain bikes and camping gear to make the most of your trips.

Tech-savvy individuals can stay ahead of the curve by renting the latest gadgets, whether it is a virtual reality headset or a professional-grade camera for a special event.

For fitness enthusiasts, renting equipment like treadmills or Peloton bikes offers access without commitment to allow you to maintain your routine without the burden of ownership.

Even food lovers can indulge in the latest culinary trends by renting high-end espresso machines or sous-vide cookers.

And why stop there?

The art on your walls, the plants in your living room and the fancy dinnerware for special occasions can all be rented to let you tailor your lifestyle to your current needs and desires without being tied down.

A major appeal of extreme renting is the cost savings, offering access to expensive items without high upfront costs.

Renting also provides flexibility and is a more sustainable choice, reducing demand for new products and lowering environmental impact.

Yet extreme renting is not without its downsides.

While the variety of rentable items has increased, the main drawback remains that you are paying for something you will not own.

Another drawback is the ongoing cost and the risk of rising rental prices and issues with availability or unreliable services.

And renting lacks the sentimental value and customisation that ownership provides, which might not suit everyone’s lifestyle.

Despite these drawbacks, the appeal of extreme renting is undeniable: it offers unmatched flexibility, promotes sustainability and provides the excitement of trying something new without the burden of long-term commitment.

A rent-it-all approach is not for everyone.

But as extreme renters will tell you, why settle for buyer’s remorse when you can enjoy renter’s delight?

Professor Gary Martin is CEO of AIM WA and a specialist in workplace and social trends