Rent is said to have been raised (4)

I believe the answer is:

hire

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'rent' is the definition.
(rent can mean to hire something out)

I cannot understand how the remainder of the clue works.

Can you help me to learn more?

(Other definitions for hire that I've seen before include "Engage; rent" , "Pay to use something" , "Rent, employ" , "Payment for use" , "Rent or lease" .)

I've seen this clue in The Globe and Mail.

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