Rent is almost ready (3)
I believe the answer is:
rip
'rent' is the definition.
(rent can mean a tear in something)
'almost ready' is the wordplay.
'almost' means to remove the last letter (most of the word but not all of it).
'ready' becomes 'ripe' (similar in meaning).
'ripe' with its final letter taken away is 'RIP'.
'is' is the link.
(Other definitions for rip that I've seen before include "Louche character" , "Tearaway" , "Tear roughly; turbulent water" , "tide" , "Parting words" .)