PHOENIX -- The rising number of foreclosures means big business in the self-storage industry.

Kevin, a manager for StorQuest in central Phoenix, said the word in the storage industry is to get ready for business from people in foreclosure.

"Obviously, it would be a boost to our business. I hate to make good on the misfortune of others, but certainly people without a home have to put their stuff somewhere and we have been looking for it," he says.

Business at StorQuest's store in Glendale, particularly, "is up substantially from last year," according to Kevin.

Kevin said self-storage business, as a general rule, "increases with a downturn in the economy. I think we're seeing that."

He said he knows a lot of his renters are down on their luck and don't know where they will wind up.

"We are seeing a lot of people looking for a place to live and they're putting their stuff in storage."

Besides those who are going through foreclosure, Kevin said business comes from people who have moved to Phoenix and are storing their furniture while waiting for their last homes to sell so they can buy homes in the Valley.

About 5 percent of the people renting storage units can't pay those bills either. Kevin puts those units up for auction after all efforts to contact the renters have failed. He said there can be some bargains for bidders.

There are no previews -- "they just lift the door up and let you look from the entrance."

He said one bidder "actually unknowingly bought a car. It wasn't anything spectacular, but I know the entire unit sold for less than $1,000. The car was certainly worth that."

Kevin said rates for storage units are generally lower than last year. The New York Times reports that stock in some self-storage companies has jumped as high as 33 percent because of new business from foreclosures.