As nice as communism sounds, there's an inherent problem with rentals.
Anyone who's been a landlord knows that people don't take care stuff they don't own. Rental cars are abused, apartments are damaged and left uncleaned, taxis are smelly, public toilets are filthy and broken down.
I can't think of any rental system off the top that consistently presents clean and well-maintained equipment without enormous amounts of time and effort.
And anyone who's been a landlord knows that you have enough margin to cover these costs (unless 'slum lord' is your business model).
There is no reason this shouldn't work. Just think of it as a rental company that leases their equipment from 3rd parties. This business model has been in place for decades in high value items (private planes, probably shipping and trucking) and no reason it can't translate construction. And to make it more profitable (and follow the existing business models further), the next obvious step is to share machinery with operators. A construction company can become an engineer and a handful of full time workers, bringing in owner operators when heavy machinery is needed. People do all this right now. Technology makes it easier to manage. The increase in efficiency becomes profit for the middleman.