Lowering large rent for item in studio (5)
I believe the answer is:
easel
'rent for item in studio' is the definition.
I can't tell whether this defines the answer.
'lowering large' is the wordplay.
'lowering' becomes 'ease' (I can't justify this - if you can you should believe this answer much more).
'large' becomes 'L' (eg in clothes sizes).
'ease'+'l'='EASEL'
Can you help me to learn more?
(Other definitions for easel that I've seen before include "Lease out the stand" , "Artist's tripod" , "Supporter for the artist" , "Tripod for an artist" , "board support" .)