Does long term use of Albuterol to treat asthma have any serious side effects?

Yes. An example is tolerance development. You may become less responsive to albuterol in the long run. Also, you will not be as well controlled between doses allowing for scarring and other complications of poorly treated asthma. If using albuterol more than a couple times per week, or if waking to use albuterol more than couple times per month; daily controller medication is needed.