Hire out
Definition 1 of 2
Pro Tip 1/3Temporary Access
The phrase implies temporary use of something, not transferring ownership. 
You can hire out my bicycle for the day.
Pro Tip 2/3Monetary Exchange
Always involves receiving payment for the use of the item or space. 
The local club decided to hire out its hall for birthdays.
Pro Tip 3/3Business-oriented
Mostly used in a business context rather than personal lending. 
The construction company hires out heavy machinery.