Make the handover record clear
Record the owner, exact model and parts included in the handover. With permission, you could photograph its condition without posting the image publicly. Note where the instructions are and what was agreed about returning it. Keeping a record does not establish that equipment is suitable or safe. Resolve questions about its condition, requirements and intended use separately before relying on it.
Update the owner when something changes
Tell the owner if a part is missing or your need for the item ends earlier than expected. Ask before passing it to another family. Check the included parts together when returning it, then remove personal details you no longer need. If several people offer similar items, compare model names as well as photographs so that the records do not silently merge different products.
Your next little step
Choose one idea that suits your family and try it at your own pace. Every family has different needs.
An example in practice
A simple row can contain the item, owner, handover date, included parts, instructions and return agreement. Limit access to contact details instead of putting the owner’s phone number into a publicly accessible spreadsheet.