With the Blockchain, we can prove the transmission of objects which in some cases is more important than to prove an ownership. This feature is used for the delivery system of parcels. But it could also be used for a renting system of objects.
Imagine that my company makes specific motors that other companies want to rent. So I can deliver my motor to the first renter who will use it, then transfer the motor to a transporter for the next renter. Etc.
Smart contracts can be used for the payment of deposits, renting fees and reputation. I can add too a tracker on my motor and ask transporters to make a photo before taking the motor. If the motor stops working, I use my insurance.