Opinion No.

The Honorable Stanley Russ State Senator P.O. Box 787 Conway, Arkansas 72032-0787

Dear Senator Russ:

This is in response to your request, on behalf of a constituent, for an opinion on the charging of late fees to lessees of rental property. Specifically, you have enclosed a letter from your constituent which indicates that many persons in the rental business charge a late fee if a tenant is late with the rent. The constituent "has recently found out that there is no ruling which separates late fees from interest and there are some in the legal field that say when the late fee amounts to more…