Popular lease for small bay (5)
I believe the answer is:
inlet
'small bay' is the definition.
(I've seen this in another clue)
'popular lease' is the wordplay.
'popular' becomes 'in' ('in' can mean trendy).
'lease' becomes 'let' (synonyms).
'in'+'let'='INLET'
'for' is the link.
(Other definitions for inlet that I've seen before include "Opening through which liquid can flow" , "Small area of sea" , "Bay or recess" , "Arm off a larger body of water between headlands" , "An entrance or opening" .)