The club have a sell-on clause on the academy product who moved to West London in a near £2m move in August 2015.
Villa’s former Town boss Steve Bruce is reportedly keen on Smithies, and could splash £4m on the 26-year-old. although he has already brought in Sam Johnstone on loan from Manchester United.
Town would benefit from any profit made by QPR, although the exact percentage remains confidential.
Smithies has totted up 44 appearances for the Loftus Road club, having played 274 times for Town.
He made his debut at 17 and was the hero of the League One play-off final win over Sheffield United at Wembley in 2012.