Rent is increased, we hear (4)

I believe the answer is:

hire

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'rent' is the definition.
(rent can mean to hire something out)

I don't understand how the rest of the clue works.

(Other definitions for hire that I've seen before include "Charter, employ" , "Pay to use something" , "Engage; rent" , "Payment for use" , "Engage (taxi)" .)

I've seen this clue in The Mirror.

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