FYI Miami: June 30, 2022

Below are some of the FYIs in this week’s edition. The entire content of this week’s FYIs and Insider sections is available by subscription only. To subscribe click here.

GAS PRICES FALL: Average gasoline prices in Miami fell 11.4 cents per gallon last week to $4.74, according to GasBuddy. Prices in Miami are 14.9 cents higher than a month ago and $1.80 higher than a year ago. The national average has fallen 8.8 cents in the past week to $4.88. The national average is up 28.3 cents per gallon from a month ago and $1.79 from a year ago. “The good news is we could also see a third straight week of decline,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While prices will be at their highest July 4th level ever, they’ll have fallen close to 20 cents since our peak in early June.”

CITIZENS RATES RISE: Regulators trimmed proposed rate hikes for state-backed Citizens Property Insurance Corp. The Florida Office of Insurance Regulation approved an average 6.4% rate hike for homeowners with “multi-peril” policies – by far the most-common policy. Citizens had requested 10.7% for those policies. Customers with other types of policies will see average increases of 8.4% to 11%, starting Sept. 1. An order by Insurance Commissioner David Altmaier said regulators determined that “rates should continue to be subject to a similar per policyholder capping methodology as used in prior filings.” Leaders of Citizens have complained that it often charges less than private insurers, though Citizens was created as an insurer of last resort. The number of policies in Citizens has skyrocketed as private insurers have dropped customers and sought hefty rate hikes because of financial problems.

BIG STATE, BIG BUYERS: It’s not New Yorkers who now are looking hardest from out of state at buying Miami residences, it’s Texans. Texans in May registered the most web searches for real estate on the Miami Association of Realtors web site. Last year Texans were fourth ranked in out-of-state buyers and New York was number one. But in May it was Texas, followed by Washington, California, Georgia and North Carolina. New York was ranked sixth.

APARTMENT BACKGROUND CHECKS: Gov. Ron DeSantis on Monday signed a law that will require apartment landlords to conduct background checks on employees, a response to the September murder of a Valencia College student. Criminal and sexual-offender background checks will be required for apartment-complex employees, and tenants will have to be given 24 hours’ notice before workers can enter apartments. “By signing this legislation, we are making it safer to live in a rental unit and giving renters more peace of mind in their home,” Gov. DeSantis said in a prepared statement.