General Cycling Discussion - bike storage

Greetings.

My boyfriend and I are contemplating purchasing a condo without much storage space. My boyfriend found this bike hanger:

http://www.velotique.com/storage-1.htm#Closet_Cyclist

I can't tell from the photo what part of the bike that the bottom piece of hanger is supporting, if anything.
Does anyone own or have experience with this type of bike hanger? Is the bottom piece of the hanger supporing anything on the bike, or, is the bike simply hanging from the top hook? Even if you don't have experience with this design, what do you think about it?

I personally am very concerned about this design. It looks like it would save space but potentially ruin wheels. But, since my boyfriend is so keen on this condo, I thought I'd ask.

The bike hangs from the front wheel. There's a little wire thingie that cradles the rear tire and keeps the bike from rocking. It looks like a pretty slick system to me. The one issue that I might anticipate is the handlebars of the two bikes hitting each other. It looks like you can adjust one bike a little higher than the other to avoid that problem.

The bike hangs from the front wheel. There's a little wire thingie that cradles the rear tire and keeps the bike from rocking. It looks like a pretty slick system to me. The one issue that I might anticipate is the handlebars of the two bikes hitting each other. It looks like you can adjust one bike a little higher than the other to avoid that problem.

I didn't notice the adjustability detail. That is a nice extra-added-bonus. I liked the stand, notice that the feet aren't "symmetric", for lack of a better word. I could put the hanger against one end of the storage giving me extra inches at the other side for the lean-back of the bike.

I don't think there is anything holding the bottom part, but you won't ruin wheels by hanging a bike by the wheel. Actually, there is less stress on the wheels than what you do when you ride, even if you weigh only 90 lb.

The only problems I see with that kind of rack are:

– In the long run, you could scratch some paint off the rims. Not an issue, unless it's a show bike.

– If you don't have strong arms, you may find hard to lift the bike up to the hook.

– Likewise, it's harder to lift a bike with a rear fender because you will need to lift it off the ground and keep the front wheel on axis at the same time. Some people cut their rear fender just enough to allow one to wheel the bike on its rear wheel. Good trick as long as you don't ride in pacelines.

– How well balanced is it with only one bike on it?

The balance issue is a very good point. I doubt the closet space is wide enough for two bikes. Plus, I probably would have only one bike at the condo, unless a friend visited overnight with a bike. I could probably lower the other hanger (assuming it's adjustable) and hang some weights on it, if balance became an issue.