Lyric discussion by Red October 

Cover art for Rent lyrics by Pet Shop Boys

I would have to say that this, like a lot of songs written or sung by gay people, gets a lot of weight attached tothat little fact and not much attached to the real meaning. There's never any statements of gender in the lyrics, and it could just as easily apply to homo or hetero relationships. The meaning of the lyrics and story here are about a "kept" lover, not "ZOMG Buttsex!"

+1 for the "ZOMG Buttsex!" And yes, it's a kept lover, not a rent boy/prostitute.

In addition, to me the song implies that the relationship is emotionally one-sided ( "you give me love" not "you love me"), with the kept lover really wanting more of an intimate companionship (note that "when you're lying next to me" is not having sex), but they are trapped in the easy life of their limited relationship.