The lifeblood of profit in the rental business is equipment. Regardless of whether you oversee heavy construction equipment, audio-visual gear, medical devices, or event rentals, your bottom line largely depends on how effectively you can keep track of and manage your assets.
And yet, many rental businesses continue to use manual spreadsheets or antiquated systems — resulting in lost inventory, unbilled usage, overdue maintenance, and decreased ROI. The good news is that with today’s equipment tracking, rental businesses are being revolutionized with automation, GPS, and RFID technologies combined with cloud-based analytics.
In this guide, we’re going to get into the top equipment tracking solutions for rental businesses that can help you manage your operation faster and more efficiently, why they’re important, what makes them different, and which one may be right for you.
Equipment Tracking for Rental Businesses: Why it Counts
Equipment is more than a cost to rental companies — it’s the product. Efficient tracking results in immediate revenue, cost containment, and customer satisfaction.
Let’s take a look at some of the most important reasons that asset tracking is necessary:
- Prevent Equipment Loss & Theft — Billions are lost every year in stolen or lost rental equipment. Losses are reduced drastically through real-time GPS and RFID tracking.
- Improve Utilization Rates — Idle assets drain profits. Tracking solutions let you know what equipment isn’t being used and where it can be deployed.
- Automate Billing & Invoicing — When usage data is linked to rental contracts, it helps guarantee accurate, automated billing so you no longer miss a charge.
- Enable Predictive Maintenance — Avoid expensive downtime with alerts for periodic maintenance, utilization limits, and state-of-health monitoring.
- Enhance Customer Experience — Customers receive visibility into usage, delivery, and service — building trust and repeat business.
- Streamline Compliance — Businesses (construction, healthcare, aviation) need compliance records. Tracking software simplifies audits.
Features That Define Leading Solutions
But before we dive into the top solutions, let’s first explain what makes a solution the best.
- GPS / IoT Tracking — Real-time location of equipment.
- RFID & Barcode Scanning — Quickly check-in/out and manage inventory.
- Scheduling — Reminders for usage or maintenance scheduling.
- RMS Integration (Rental Management Software) — Syncs with contracts, billing, and CRM.
- Mobile Workforce — Field staff can update status, usage, and scan barcodes in the field.
- Analytics & Reporting — Breakdowns around asset utilization, revenue per asset, ROI.
- Multi-Site & Fleet Support — For multi-site branching or fleet rentals.
- Customer Portal Alternatives — Access to rental history, service status, or invoices.
Top Equipment Tracking Solutions in 2025
EZRentOut – All-in-One Rental Software
Overview: EZRentOut is a popular platform for equipment rental businesses. It merges the functionalities of equipment monitoring, inventory tracking, and rental operations into one system.
Key Features:
- Barcode and QR code tracking.
- Life-cycle management of assets (from purchase to disposal).
- Maintenance and service reminders.
- QuickBooks, Xero, and other accounting integration.
- Online store functionality for reservations.
Best For: Small to mid-size rental companies searching for an all-inclusive platform.
Pros: Easy to set up; affordable pricing; strong integration with financial systems.
Cons: Limited customization for enterprise-level complexity.
Asset Panda – The Smartest Asset Tracking Software on the Planet!
Overview: Asset Panda is a mobile asset tracking system that offers a customizable asset management solution. It is cloud-based and customizable to accommodate various fields.
Key Features:
- Custom fields and workflows.
- Mobile app with barcode scanning.
- Maintenance and depreciation tracking.
- Role-based access controls.
- Accounting and ERP integration.
Best For: Rental companies that need flexibility and customization.
Pros: Highly configurable; strong reporting and analytics; great for multi-location businesses.
Cons: Requires setup time for customization.
CHEQROOM – AV & Production Equipment Tracking
Overview: AV, film, and production rental companies love CHEQROOM due to its powerful, cloud-based tool for keeping track of equipment.
Key Features:
- RFID and barcode check-in/out.
- Attach a photo or document to your assets.
- Mobile-first design for field teams.
- Reservation calendar for equipment scheduling.
- Damage tracking and reporting.
Best For: Media, film, and event rental companies.
Pros: Intuitive interface; great for short-term rentals; mobile-friendly.
Cons: Less feature-packed for heavy equipment or construction.
Wasp AssetCloud Asset Tracking Software
Overview: Wasp’s AssetCloud is a professional-grade asset tracking system used across industries and widely adopted by rental businesses with broad fleets.
Key Features:
- RFID, barcode, and GPS integration.
- Cloud-based with role-based access.
- Audit trails for compliance.
- Scheduled maintenance and service logs.
- Comprehensive usage and ROI reporting.
Best For: Large rental companies with intricate inventories spread over multiple sites.
Pros: Enterprise scalability; robust security features; strong compliance reporting.
Cons: More expensive compared to SMB-oriented solutions.
Sortly – Visual Inventory Tracking
Overview: Sortly is a simple and efficient visual inventory management tool for everyone, from businesses to home users.
Key Features:
- Drag-and-drop visual catalog.
- QR and barcode scanning.
- Mobile-friendly check-in/out.
- Cloud-based with offline mode.
- Reporting and custom tags.
Best For: Small rental companies needing something visual.
Pros: Very user-friendly; affordable pricing; mobile-first design.
Cons: Lacks advanced enterprise features.
Tenna – Construction Equipment Tracking
Overview: Tenna focuses on construction equipment tracking and provides IoT and telematics solutions.
Key Features:
- GPS, QR, and RFID tracking.
- Fuel, usage, and location telematics.
- Preventive maintenance alerts.
- Mobile access for field teams.
- Analytics dashboards for equipment utilization.
Best For: Construction rental companies.
Pros: Strong IoT features; great for heavy machinery; helps reduce downtime and theft.
Cons: Industry-specific, not general-purpose.
Comparison Table - Top Players Tracking Systems
| Solution | Best For | Key Strengths | Limitation |
|---|---|---|---|
| EZRentOut | SMB rentals | All-in-one rental + tracking | Limited enterprise features |
| Asset Panda | Flexible rentals | Custom workflows, reporting | Setup time |
| CHEQROOM | AV & media rentals | Intuitive, mobile-first | Not ideal for heavy machinery |
| AssetCloud | Enterprises | Compliance, multi-location, RFID/GPS | Higher cost |
| Sortly | Small rentals | Visual catalog, simple UI | Basic features |
| Tenna | Construction rentals | IoT, telematics, heavy equipment | Niche-specific |
Equipment Tracking Statistics: A Look At The Trends In 2025
- IoT & Telematics — Real-time usage data, predictive maintenance, and fuel tracking.
- RFID & Smart Tags — Quick in/out for rental fleets.
- Cloud-Based A/V Platforms — Management from afar.
- AI & Predictive Analytics — Real-time tracking and proactive spend management.
- Customer Portals — Renters can go online to reserve, check in, and maintain their rentals.
- Mobile-First Utilization — Field force with apps for real-time updates.
FAQs
Q1: What is the best software for small rental businesses?
A: Sortly and EZRentOut are the cheapest and easiest to use for small teams.
Q2: What is the best solution for large businesses?
A: Wasp’s AssetCloud is enterprise-ready, SAP Concur (for travel), and Tenna (for construction) are best-in-class for specific use cases.
Q3: What is the best rental solution for AV & film?
A: CHEQROOM is perfect for AV and production rentals with flexible tracking and scheduling.
Q4: Can these tools connect to accounting systems?
A: Yes, most top tracking systems integrate with QuickBooks, Xero, and ERPs for billing needs.
Q5: What feature is most important?
A: Location monitoring and maintenance scheduling contribute to reducing losses and improving ROI.
Conclusion
The best rental solutions providers with equipment tracking are revolutionizing asset management, cost reduction, and better customer experience.
If you run a small rental store, EZRentOut or Sortly are straightforward yet potent options.
Asset Panda offers solid customization.
CHEQROOM is ideal for media rentals.
For big businesses, AssetCloud’s scalability ensures compliance and security globally.
Tenna provides comprehensive IoT and telematics for construction rentals.
Ultimately, the best solution for you depends on your industry, asset size, and growth stage. However, one thing is clear: companies that have already implemented equipment tracking solutions are seeing clear advantages in profitability and customer satisfaction.
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