The main issue with RENT was not that the actors were too old (though it certainly was an issue), but that their performances came off as to theatrical, uninspired, and lacking for the screen. Take Adam Pascal for instance, he barely registered on the screen and he lacked any sort of star power on film to carry the whole thing as the romantic lead.
Rosario Dawson and Tracie Thoms on the other hand were able to bring in a new take on the roles and tone down their performances for the silver screen.
Even if the whole cast had been great at acting on film, nobody knew who they were, nobody cared. Unfortunately, films need names to succeed, especially movie musicals.
"Some people can thrive and bloom living life in a living room, that's perfect for some people of one hundred and five. But I at least gotta try, when I think of all the sights that I gotta see, all the places I gotta play, all the things that I gotta be at"