Mostly very good about limitations of the accommodation (5)
I believe the answer is:
hotel
'accommodation' is the definition.
(type of accommodation)
'mostly very good about limitations of the' is the wordplay.
'mostly' means to remove the last letter.
'very good' becomes 'holy' (very religious).
'about' indicates putting letters inside.
'limitations of' means to remove the middle letters (only the letters at the limits or edges).
'the' with its centre removed is 'te'.
'holy' with its final letter taken off is 'hol'.
'hol' going around 'te' is 'HOTEL'.
(Other definitions for hotel that I've seen before include "Letter of the alphabet" , "It keeps guests" , "Accommodation for travellers" , "Building with rooms to stay in" , "Lodging establishment" .)