All the info you need regarding STR is on Waco-Texas.com. Look on the planning and zoning page on Waco's website, there is links for all the info you need. You can also call them, they have always been friendly and helpful when I call.
You will need to apply for a STR permit and get a safety inspection done on the property. There are more regulations regarding the type of STR it is and the location. Also you will need onsite parking and you have to pay a 4% hotel tax. You will also need to designate an "operator" that will be in the area at all times while your unit is being rented.
There is more but like I said Waco's planning and zoning page should take care of you. You'll definitely want to call and talk to someone from planning about your intentions before you buy!
Oh also, make sure you have a good exit strategy for your airbnb property in case the city becomes more hostile towards STRs. There was already a push to get them banned around Baylor campus that resulted in just some more regulations I believe. However, there are a lot of hotels looking to build in and near downtown Waco and you best believe they will start lobbying and pushing their weight around to get STRs banned or regulated as much as possible when they start moving forward with development.
@Robert Pfenninger thank you for that info! It actually helped me decide against Waco!! Which I’m relieved that I finally made up my mind. It was between Waco and Galveston.
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