A number of Vancouver residents are earning extra by using their homes as short-term rentals or STRs.

As of October 10, 2019, according to a city staff report, 4,694 units were available as STRs or accommodations for less than 30 days.

Of the 23 neighbourhoods, Downtown Vancouver accounted for most of the STRs, with 1,112 units.

Following behind were Kitsilano, 362 units; Kensington-Cedar Cottage, 313; and Riley Park, 303.

At the other end, Killarney had the smallest share, with 82 units; Fairview, 84; and Shaughnessy, 85.

According to the report prepared by chief licence inspector Kathryn Holm, 74 percent of STR listings were for an entire unit, and 26 percent were for individual bedrooms or shared units.

Staff reviewed the STR program as the city marked its first year of regulating the market.

As of September 2018, all STR rental operators were required to get a city licence.

Holm recalled in her report that city staff recommended against a licence cap for neighbourhoods in an initial policy review in 2017.

Moving forward, staff will not be suggesting a change.

“Capping the number of business licences contradicts with one of the program’s guiding principle to allow Vancouver residents to earn supplementary income by short-term renting their home,” Holm wrote.

Holm also explained that licence caps would require a complex process to determine the “appropriate number of STR business licences for each neighbourhood”.

“If a cap is imposed, the City will need to consider how to fairly allocate the annual allotment of STR business licences, which can be on a ‘first come, first serve’ or lottery basis,” Holm wrote.

In addition, Holm said that the city may have to “administer wait-lists for applicants who are eligible but were rejected because the annual caps have been met”.

Holm’s report noted that 81 percent of STR listings were with Airbnb.