Rent kit out — it's of little value (7)

I believe the answer is:

trinket

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'of little value' is the definition.
The definition suggests a singular noun which matches the answer.

'rent kit out' is the wordplay.
'out' indicates an anagram (out can mean wrong or inaccurate).
'rent'+'kit'='rentkit'
'rentkit' with letters rearranged gives 'TRINKET'.

'it's' is the link.

Can you help me to learn more?

(Other definitions for trinket that I've seen before include "Knitter (anag.)" , "Trifle" , "Charm" , "Gewgaw" , "Bauble, geegaw" .)

I've seen this clue in The Guardian.

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