Quality tools are very expensive and you wonder why it's so hard to keep good maintenance professionals when they are usually at the bottom of the pay scale. It is an industry issue that needs to be addressed and Marcel is a leader in my eyes for putting the question out there, to challenge the status quo.
Yes, the fear of losing or stolen tools is the common reason to not provide them, however...there is a better way! Mobile-Shop is the best of both worlds; providing techs with high quality tools AND providing accountability. They are a tool management system that reduces trips to the shop or store & even leads to better resident satisfaction because the work in done right and quickly. I used to work for them several years ago and highly recommend this program. If you contact them, tell them Pat Patterson is still touting their praises!

Our team members who come with skills have their own "general" tools, but we provide the bigger items. That said, we have 2 initiatives for maintenance. For "starter" team members we have a "starter kit" that we provide as needed for new "apprentice" level people just starting in the industry. For other team members we have a purchase program for larger tools where we buy them for our team members to own, and they reimburse up to 50% through payroll deductions and then they own the tool. It makes for tools not going missing, being better maintained.

They provide their own basic tools, drill etc.

Mostly the tools belong to maint. man and the equipment resources are the properties. Tx.

That can be state specific. In some states if the employee provides their own tools they are required to be paid a higher wage

Yes, Monarch Investment and Management Group has an awesome tool reimbursement program.