Let rip? (4)

I believe the answer is:

rent

I believe this is a double definition.

'let' is the first definition.
(I know that let can be written as rent)

'rip' is the second definition.
(synonyms)

(Other definitions for rent that I've seen before include "Lease - torn apart" , "Let out - torn" , "ruined" , "Payment - in pieces" , "Torn, due to landlord" .)

I've seen this clue in The Sunday Times, The Times and The Telegraph.

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