Shops down to less practical (for the player) buildings such as a well and a church can be renovated in the Villa Auditore in Monteriggioni. This system is more simple than in later entries, but all the same rewards the player with discounts, new items, and more money.
The income system is greatly expanded upon in Brotherhood, serving as the benchmark implementation of this feature for the series to date. Ezio must first establish Assassin control in an area by assassinating the Templar captain in charge; it is then that he is able to walk up to the many stores, landmarks, aqueducts and fast travel points in Rome that have gone out of business due to the ruthless actions of the Borgia. Banks are what set the maximum amount of income, and also act as a means to withdraw income throughout the city, instead of having to travel to one chest each time as in II.
The system here is not much different than Brotherhood apart from being affected by the changes to the system of capturing Templar territory, and little things such as art shops being effectively replaced by book stores. These changes reflect the cultural changes Ezio has experienced going from Rome to Constantinople. Ezio's economic influence over the city as a complete foreigner is impressive, if not slightly baffling.
The renovation system has been removed as part of the many changes made to AC:III. The only resemblance is in Connor attracting business to the Davenport Homestead, sometimes needing to pay large sums of money in order to have buildings constructed. However, the only income to speak of is through the new trade caravan system.
Even less present than in AC:III. Understandably, as pirates aren't known for their hand in renovating small businesses.
Renovation makes its not-so-triumphant return in Unity.
Surprisingly, renovation also lives again in Rogue, despite the vast similarities in gameplay to Black Flag.
While not the first open world game to implement a feature involving collecting income from businesses (this goes at least as far back as Vice City) the series' focus on it in numerous installments has become unparalleled. The way the player can improve visual features in the city makes it in more in line with a city building game, albeit a much more simple version. 1990's ActRaiser is a progenitor in similarly combining an action game with city building aspects.