A burning rubber smell is caused by the following:
It's common to notice a burnt rubber smell coming from your car. Often, it is not tire-related; the odor might come from rubber contact with a hot engine or exhaust pipe instead. Hence, many of your car's rubber parts, such as coolant hoses, steering hoses, timing belts, and accessory drive belts, might have something to do with it.
Acting early is crucial since rubber can deteriorate under high heat and affect related parts.