It appears that in Queensland, it is difficult, if not impossible, to prevent lot owners in a strata titled building from renting their apartments via short term rental services such as Airbnb.
A recent decision of Lynkim Lodge  QBCCMCmr 419 (14 September 2016) supports this. See decision here.
However, most residential buildings prohibit the use of lots for commercial or business purposes. When does renting an apartment on Airbnb stop being a residential purpose and become a commercial purpose?
In NSW, there is an action group trying to protect residents of apartment buildings from the dangers of short term rentals. See NeighboursNotStrangers. See also here. They report that apartments in buildings with high short term rentals will drop in value and that there are higher body corporate costs.