Rent out bird (4)
I believe the answer is:
tern
'bird' is the definition.
(tern is a kind of bird)
'rent out' is the wordplay.
'out' is an anagram indicator (out can mean wrong or inaccurate).
'rent' with letters rearranged gives 'TERN'.
(Other definitions for tern that I've seen before include "Long-winged aquatic bird" , "Pay rent for seabird" , "Small gull with forked tail" , "Seagull" , "flier" .)