Rent more than it was reported (4)

I believe the answer is:

hire

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

I cannot understand how the rest of the clue works.

(Other definitions for hire that I've seen before include "Engage (taxi)" , "Rent or lease" , "Employ (for wages)" , "Rent, employ" , "Charter, employ" .)

I've seen this clue in The Independent.

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