Payment cut (4)
I believe the answer is:
rent
This clue is a double definition.
'payment' is the first definition.
(rent is a kind of payment)
'cut' is the second definition.
(thesaurus)
(Other definitions for rent that I've seen before include "Payment due to landlord" , "Payment for lodgings? that's torn it" , "It's paid by a tenant" , "Regular payment" , "money demanded by letter" .)