Hire out is a term used to describe the process of engaging someone else to do a job or task. It can be done in three ways: letting, renting, and leasing. Letting involves allowing someone to use something for a specific period of time without any payment. Renting involves paying a fee to use something for a specific period of time. Leasing involves making a long-term agreement to use something for a set period of time, usually with an option to purchase at the end of the LEASE.