We have 2 dedicated servers that we rent right now, and the one is working great. The other one was my fault because I'm an idiot and didn't listen to instructions.
I like renting the servers, this way other people have to setup the servers, deal with maintenance issues and run the server for us. Its just a lot easier all around and we can always upgrade to the newest stuff whenever we need to.
Also a plus is we can run servers like Battlefield that can only be hosted by certain hosts, one of which we are renting from.