I have heard people charge equipment rental fees for things like cake stands. Also refundable deposits once the equipment is returned. How much? Just give them a check or cash once the items are returned? Anything else I am not thinking about? 

Rental fee is about 1/3 the price of the item. Deposit is 100% cost (including shipping, tax, etc.) minus rental fee for the item. LATE FEE/ DEADLINE to return is important, along with detailed damage clause ("Oh, I only dropped it once..."). 

$100 cake stand rental. Customer pays $100, you charge them $35, and refund $65 once return, clean and undamaged. Some charge $100+$35 so you would still make a profit if the item is never returned. 

Thanks! 

I have a hiring fee for the item and then the full cost of a replacement (and then some) as a deposit.  I'm about to take delivery of a stainless steal stand which will take cakes up to 45kg.  It is seriously pricey so I will be charging £180 for the deposit as well as a £35 hire charge.  As for overdue payments, I am very cold hearted with that and reserve the right to withhold the full deposit amount if it was returned late.  If I needed that stand the next day, their late return could mean I have to go out and buy a new one.  That could be as extreme as me having to drive 2 hours each way to get it.  Harsh but true :-)