Popular period for renting property in bay (5)
I believe the answer is:
inlet
'bay' is the definition.
(I've seen this before)
'popular period for renting property' is the wordplay.
I cannot really see how this works, but
'popular' could be 'in' ('in' can mean trendy) and 'in' is present in the answer.
The remaining letters 'let' is a valid word which might be clued in a way I don't understand.
This may be the basis of the clue (or it may be nonsense).
'in' is the link.
Can you help me to learn more?
(Other definitions for inlet that I've seen before include "Place of entry" , "Coastal bay" , "Arm of lake, river" , "One's up the creek here" , "access point" .)