SAP has a Special Industry Solution for such requirement which is bookingt ime d

ependant costs as well as usage based costs to projects. This is heavily dependa
nt on some factors. Like activity type of equipment (idle just a base price, wor
king base price + N u20AC, if there is a break on the project due to holidays or
something they dont have to pay etc).
Up to my knowledge the internal rental and even rental between company codes is
covered in the Equipment and tools management process.