Anyone have their infant and toddler share a room? How do you manage the different sleep cycles?

My cousin co-sleeps with her infant and toddler. She doesn't really get to sleep well at night because her elder one still wakes up and demands for attention. She also has to latch her younger one at night, so she only gets pockets of sleep each night. It sounds really tiring! I would suggest moving the toddler to her own room in her own bed and using a baby monitor to keep an eye on her to save your sleep. http://kidshealth.org/parent/general/sleep/cosleeping.html