Ark. Code Ann. § 18-16-411: Conditions and limitations for imposing late fees

(a) If the amount of a late fee and the conditions for imposing a late fee are stated in the rental agreement or in an addendum to the rental agreement, the operator may impose a late fee on the occupant for each month the occupant does not pay rent when due that does not exceed the greater of: (1) Thirty dollars ($30.00) per month; or (2) Twenty percent (20%) of the amount of monthly rent. (b) Expenses incurred as a result of rent collection or lien enforcement by an operator may be charged to the occupant in addition to the late fees permitted by this section. Added by Act 2013, No. 364,§ 3, eff. 8/16/2013.

(a) If the amount of a late fee and the conditions for imposing a late fee are stated in the rental agreement or in an addendum to the rental agreement, the operator may impose a late fee on the occupant for each month the occupant does not pay rent when due that does not exceed the greater of: (1) Thirty dollars ($30.00) per month; or (2) Twenty percent (20%) of the amount of monthly rent.

(1) Thirty dollars ($30.00) per month; or

(2) Twenty percent (20%) of the amount of monthly rent.

(b) Expenses incurred as a result of rent collection or lien enforcement by an operator may be charged to the occupant in addition to the late fees permitted by this section.