My attitude about life is similar to jstalk's. But we all have to figure out what works best for ourselves.
I wouldn't rent it out. That turns you into a responsible company. I'd ask if he was willing to spring for a new set of tires. If not, buy your own trailer.
Loaning things always has risk, everything in life does. Including NOT loaning things. Some of my friends still get loaned tools from me, some don't. I had a friend with a need of my very heavy equipment trailer. He brought it back with a new inspection sticker for me. I no longer own it, sold it with the crawler. If I need a light trailer, he's got one available. Cooperation, so long as it goes both ways, is a great way to live. Ask the guy who leaves his Stihl 880 here for me to use. And knew that he didn't need to pay for an emergency plumbing repair when he dug in the wrong place.
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Today's Featured Article - Trailering Your Tractor - by Curtis Von Fange. One of the fun things of summer and fall are the parades and tractor shows that go on across America. Many owners of tractors travel long distances to attend these shows and they usually take their restored iron along with them. Safe trailering practices and inspections will ensure that the event is a fun one. A good habit to develop when using a trailer is to give that �quick look over� before taking it on a trip. Before hooking up to it check the tongue for proper operation. The latche
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