Little piece of land has a tenant it seems (5)
I believe the answer is:
islet
'little piece' is the definition.
'islet' can be an answer for 'piece' (I have seen 'Piece of land' mean 'islet' so perhaps 'piece' could also mean 'islet'). I also know that 'little' relates to this answer.
'land has a tenant it seems' is the wordplay.
I cannot really understand how this works, but
'land' could be 'isle' (isle is a kind of land) and 'isle' is present in the answer.
'it' could be 't' (abbreviation. e.g. in 'tis) and 't' is found in the answer.
This accounts for all the letters.
This explanation may well be incorrect...
'of' acts as a link.
Can you help me to learn more?
(Other definitions for islet that I've seen before include "Small landmass" , "Detached territory" , "Small piece of land surrounded by water" , "Tiles to make a small island" , "Eyot, holm, inch" .)