It's private property.
If your renting it out is it yours?
The scheme of renting your phone out requires it to be written somewhere that you own the thing, like in a legal system. If I stop paying rent and keep the phone you have to get police to enforce (with violence) your claim to the phone, like an eviction. I don't think this scheme should be legal, and what we are talking about exists with debt. Lot's of people buy phones on a payment plan, or you can think of a car note. How would people get phones? That would be decided by the workers together, people make those phones and it's a violent and bloody process. We need to be set free, not enslaved in rent and wage labour.