Rent is actually 租 in chinese. 出租 is to rent something out. I guess the writer of this song wishes to rent their life. For rent means something is available to be rented. You will see a For Rent sign outside an apartment building that has an empty unit.

rent a house = live in someone's house and pay him every month When a house is empty, you put up a notice saying: House For Rent. "Rent" has the same meaning in this phrase.

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The song generally, is about placing value on your (her) life. "But if my life is for rent and I don't learn to buy Well I deserve nothing more than I get Cos nothing I have is truly mine" It is about the being you and living up to your dreams... she talks about her desires and dreams below. I haven't ever really found a place that I call home I never stick around quite long enough to make it I apologize once again I'm not in love But it's not as if I mind that your heart ain't exactly breaking It's just a thought, only a thought I've always thought that I would love to live by the sea To travel the world alone and live more simply I have no idea what's happened to that dream Cos there's really nothing left here to stop me

Thanks for your help, Peachey