Renew the lease for the stand (5)
I believe the answer is:
easel
'the stand' is the definition.
(stand for an artist's canvas)
'renew the lease' is the wordplay.
'renew' indicates anagramming the letters.
'lease' is an anagram of 'EASEL'.
'for' is the link.
(Other definitions for easel that I've seen before include "Support for artist's canvas" , "Framework to hold a canvas" , "Board stanchion" , "Supporter for the artist" , "Artist's supporting frame" .)