http://en.wikipedia.org/wiki/Externality
You rightly point out, that, for instance, in a crowded apartment building, having something like a dynamite storage facility would probably be a bad idea.
However, other things might be annoying too, such as having children or pets or noisy sex, so you have to 1) get an idea of the actual costs involved, and not just "well, this could happen", and 2) see if there's a framework where people could regulate/resolve their differences on a more local level. Perhaps in some buildings, people would be ok with some AirBnB traffic if they get a small cut of it. The idea being that the more global the solution, the more likely it's going to be inefficient.