Hi there. There is no law that says people can not rent physical items of property that they own to another person. While it is not illegal for people to rent their own person property to someone else, you may face liability issues if the tools which are rented out are faulty, or old or damaged and this injures a person using them. In providing a consumer service such as leasing equipment, a person is under a duty to provide safe and working equipment. If they do not do so they will be liable to pay for the damage caused, and this damage may be something as serious and costly as a physical injury.

Because incorrect use of power tools or faulty power tools can result in serious injury you may like to consider the following:

• How you will ensure that all tools are in good functioning order and retain their safety instructions.
• How you will ensure that people use the tools in a safe way. Some power tools are dangerous and require training in order to be used properly.
• Will you be renting these tools to people who do not know how to use them?
• How you will ensure that all trailers are roadworthy.

You may be able to deal with these issues of risk by creating a very detailed disclaimer document for customers to sign, as well as detailed terms and conditions outlining the obligations and responsibilities of those who are providing the tools. However, the details of your business plan will need to be elucidated more fully before this can be done.