Buying a condo to use as a short term rental makes sense.  You don't have to worry about things like lawn care, and roof maintenance, and the condo may even offer amenities that appeal to guests.  However, not all condos allow short term rentals.  In fact, most do not.  If you want to buy a condo to use as a short term rental, you should obtain a copy of the condo documents.  These documents will include all restrictions and rules, and most often will state the minimum rental length requirements.

If you find a condo where STR use is permitted, you will still want to confirm the municipality allows short term rentals.  Laws vary from one city to the next.  In the city limits of Austin, it is still possible to purchase a condo to use as a short term rental even if it's not your primary residence.
​Austin allocates condo STR permits according to the zoning of the property. You will need to first verify how the condo is zoned,  how many units are in the condo project, and how many active permits have been issued already.  The City of Austin stipulates a maximum of investor owned permits per condo building:

• 3% allowed per building if zoned residential
  
• ​25% per building if its zoned commercial
  

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