The most common and most likely answer to this crossword clue is the 5 letter word LEASE
I've seen this crossword clue in Independent
L
E
A
S
E
More clues leading to the result LEASE
- Rental contract to satisfy without pressure at first
- Rent left, gaining freedom from worries
- Rent pasture and vacant storehouse
- Were pound to plummet, this contract could provide support
- Think fit Prince must leave contract
- Let‘s wish leader gone
- Let loose at the outset then relax
- Part of girdle a seamstress let out
- Let learner driver move gradually
- Let there be boundless delights!
Buddy explains!

The straight part
We know that "let out" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case let out = lease.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does LEASE mean?
LEASE verb- (chiefly dialectal) To gather.
- (chiefly dialectal) To pick, select, pick out; to pick up.
- (chiefly dialectal) To glean.
- (chiefly dialectal) To glean, gather up leavings.
- To tell lies; tell lies about; slander; calumniate.
- An open pasture or common.
- To release; let go; unloose.
- A contract granting use or occupation of property during a specified period in exchange for a specified rent.
- The period of such a contract.
- A leasehold.
- To operate or live in some property or land through purchasing a long-term contract (or leasehold) from the owner (or freeholder).
- To take or hold by lease.
- To grant a lease; to let or rent.
- The place at which the warp-threads cross on a loom.