They are not rentals you can delete and go re-download ever game you ever received from PS+ i have over 1000 games across all platforms from PS+ that i still go back and download. As long as you have a PS+ Subscription you have every game you've ever claimed on the ps store and i claim ever last one from PS3 to PS Vita because i still have a vita and may get a PS3 someday.
They are not rentals you can delete and go re-download ever game you ever received from PS+ i have over 1000 games across all platforms from PS+ that i still go back and download. As long as you have a PS+ Subscription you have every game you've ever claimed on the ps store and i claim ever last one from PS3 to PS Vita because i still have a vita and may get a PS3 someday.