Creating an Asset at Work Order Completion

Our business manufactures assets that they then rent to customers.

After work order completion, we'd like the system to automatically create an asset master so that we can track the asset and start to depreciate it.

The closest I can find is the ability to create an Equipment Master when a sales order is ship confirmed - using the 'Create Equipment Master' checkbox on the item branch record. However, our business doesn't sell anything, it just rents. And the asset could be on our site for months before it's actually sent to the customer for rent. In the meantime, it should be a fixed asset and be depreciated.