Most tools you should buy - or get a neighbor to buy. There is a lot of friction going to a maker space for some tool. It is much easier to grab your own drill when you need one than to go elsewhere to get it.
Renting stuff as a business only makes sense if you can ask for reasonably high rent to cover your costs. Very expensive stuff (professional cameras, cars, bridal dresses) meets this criterion. A drill that costs 200 USD doesn't. How much can you ask for a day of rent of such a drill? 10 USD? That covers the cost of keeping the shop open for a few minutes at most.
Borrowing/lending stuff between friends makes a lot more sense, but you are limited to a fairly small set of people and you must be socially not-inept not to irk them with unreasonable requests; also, it happens that many people need the same type of object at nearly the same time (a day off with nice weather is great for gardening, so everyone is gardening; whoops, snow has fallen, everyone needs their shovels in the morning).
The renting solution would have more GDP, because it would simply be more expensive - and that's why it doesn't really exist.
Somehow, through various constraints and processes it's "better" overall for me and 500 other people to buy a hand tool (drill, angle-grinder, saw, etc), than it is for a dozen of such tools to be stocked at a shared-center like a maker/hacker space for us all to use that odd time we need it in the year.
500 tools sold means X% more truck delivery trips, more than Y% of hours worked by dock loaders, Z$ of rented space, A$ of margin added by a supplier, B$ of supplier warehouse space rented, etc etc etc.
We've settled on a local-maxima that adds a lot of imaginary "GDP" points while the value is sucked out away from all of the rest of us.