Crossword Genius

Hires reins after horse has bolted (6)

Ross

I believe the answer is:

leases

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'hires' is the definition.
('lease' can be a synonym of 'hire')

I cannot understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for leases that I've seen before include "Enters into contract to use, say, land" , "Rents out" .)

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