I have something similar to shirk's in my garage as well, but with another row below to fit more bikes in a smaller space. Like this:

Perhaps not the best option if you're renting.
Edit: ok, looks like shirk has some bikes hanging from the rear wheel, and some with the handlebars turned. Same concept, different execution. First person to ask if the rim will get warped or damaged gets an e-kick in the nuts.
We heard you in our twilight caves, one hundred fathom deep below, for notes of joy can pierce the waves, that drown each sound of war and woe.
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