I created a "ThirdPartyDLL" folder in my project folder in which I copied all the extra DLLs into it. I then went into source explorer and added those DLLs into the team foundation server so I could be sure I'm using the correct versions of the DLLS for specific versions of my application (and so everyone else is on the exact same page as I am).
View - other windows - Source coontrol explorer
Right click project folder - add items to folder
You won't be able to select a specific folder with DLLs in it, but instead you can select the individual DLL files within the folder. You will then see the "ThirdPartyDLL" folder appear in that window.
Once this is done, those dlls are in the team foundation source control. Whenever a dev checks in, they will get the most current version of the DLLs.
Don't forget to remove the old references in your app and change them to your thirdpartydll folder.
I used to copy the DLLs into the bin folder but the issue I ran into was when the DLLs got upgraded. Initially when my project was small it wasn't a big deal. Now that I have multiple DLLs and applications that I created it became very difficult to maintain consistent versions of DLLs outside my project. My best example is the licensing dll I purchased. When this got upgraded all applications and libraries needed to be on the same version. If I forgot one then I had weird issues or the application just stopped working. Now that I have everything in one folder, I make the change once and everything is upgraded.
Hope this helps.