The tokenization of rental real estate assets using blockchain technology has recentlygained attention as a novel way to enhance the liquidity and transparency of the real estate market. Inthis paper, we propose a smart contract-based system for the tokenization of rental estate assets usingthe Solidity programming language along with the framework. The system aims to provide a secureand transparent way to buy and sell a fraction of ownership of rental estate assets by leveraging thedecentralized and immutable nature of blockchain technology. Our study showcases the outcomes ofthe regression analysis conducted on synthetic historical data of rental estate returns and risk factors.The findings revealed a significant positive correlation between rental estate returns or rental yieldand risk-return factors. Additionally, we describe the Analysis of Variance(ANOVA) analysis, whichconfirms the statistical significance of our proposed model. Our findings suggest that tokenizationof rental estate assets using blockchain technology can bring substantial benefits to estate investors,such as increased liquidity and reduced transaction costs. This study contributes to the developmentof the estate industry by proposing a novel model of blockchain technology in the context of rentalestate asset tokenization.