Rent out flyer (4)
I believe the answer is:
tern
'flyer' is the definition.
'rent out' is the wordplay.
'out' indicates anagramming the letters (out can mean wrong or inaccurate).
'rent' with letters rearranged gives 'TERN'.
(Other definitions for tern that I've seen before include "Small slender gull" , "Rent out this gull" , "Small gull with forked tail" , "Rent out the bird" , "Seagull" .)