A person who rents something pays only for the time that he or she uses it. You can rent a car, a house, a building, a store, or equipment.
In these examples, "rent" is a verb:
They’re renting a house.
Zelda needs to rent a car for a few weeks. (The word "lease" could be used in place of "rent.")
Hank’s company rents out office space in this building. (They own the building. To rent out something is to make it available for other people to rent it.)
Where can I rent a compressor?
Let’s rent a boat and go on the lake.
The adjective form of "rent" is "rented" or "rental."
They live in a rented house.
They signed a rental agreement.
They took out rental insurance in case of a fire or a flood.
The word "rent" is a noun.
Did you pay this month’s rent?
The rent is due on the fifth day of the month.
They pay a very high rent. It’s $2000 a month for a one-bedroom apartment.
How much is the rent?
A person who rents is a "renter." The thing being rented is a "rental."
The renters didn’t pay the rent, so they were evicted. (They were forced to leave.)
All the houses on this block are rentals.
He’s driving a rental for a few days while his car is being fixed.
Tired of being a renter, Tanya finally decided to buy a house.