A more thorough explanation:

Term: arrent
Definition: Arrent is a historical verb that means to rent something at a fixed price. In the past, it was also used to describe the act of giving permission to enclose a portion of public land in exchange for an annual rent. Examples: - The landlord arrented the apartment to the tenant for $1000 a month. - The king arrented a piece of land to a nobleman in exchange for an annual rent of 100 gold coins. These examples illustrate how arrent was used to describe the act of renting something at a fixed price. In the second example, it also shows how arrent was used in the past to describe the exchange of public land for an annual rent.