The album includes guest appearances from J. Cole, Doechii, Fatman Scoop, Cruza, Lucky Daye, Phoelix, Cory Henry, Ravyn Lenae, Lil Uzi Vert and Reggie.

[1] On November 16, 2021, Smino announced he signed a new record deal with Motown in partnership with his independent label Zero Fatigue.

"[3] The album contains production from Monte Booker, Phoelix, Groove, Kal Banx, Childish Major, and Cory Henry, among others.

"[4] In 2020, Smino announced his third studio album was planned to be released after the mixtape She Already Decided, however was faced multiple delays.

TiVo Staff for AllMusic notes that "Smino continues his blend of several generations of rap styles, R&B, neo-soul, and even hints of psychedelically bent pop, delivering some of the strongest articulations of his sound to date."

He continued to state that Luv 4 Rent "draws heavily on a Kendrick Lamar influence for its vocal performances and melodic structuring," noting that the "album experiments with combining electronic production elements."

Concluding his review, he stated that the "lyrical themes of love, intimacy, and fraught relationships carry the majority of" the album.

[17] HipHopDX's Lauren Floyd notes that "Smino often uses his own voice as an instrument, moving through different octaves seamlessly."

She continued to write that Luv 4 Rent is a "repeat offender in wooing many hearts with its delicate production and its highs and lows," concluding her review by noting that the album "can't whole-heartedly be labeled as a no skip album," however, "every song does its part, building on top of the next to create a distinct memorable experience listen after listen.

"[18] Heven Haile for Pitchfork noted that "Luv 4 Rent is a meditation on the mind maze of romantic, platonic, self, and familial intimacy."

Haile wrote that "across two studio albums, Smino has mastered sultry falsettos, funkafied productions, and clever wordplay."

Continuing her review, Haile stated that "moments of vulnerability are almost swept under his rapid-fire punchlines" and "there’s a tension of wanting a woman to hold him down."

Concluding her review, she noted that "Luv 4 Rent is a collection of sobering realizations amid porch-top ciphers, humid Midwestern summer block parties, Sunday after-service family gatherings, and late-night Backwoods-sponsored hookups," and that the project is "lively, raw, and a bit hectic.