Smoothly Fading Controls

I am trying to fade a label but it doesn't seem to have the opacity property like the form itself.

Is there another way to fade controls?

You can use my Transparent control that accept transparent color and have opacity property(0 - 100):

   public class TranspCtrl : Control
    {
        public bool drag = false;
        public bool enab = false;
        private int m_opacity = 100;

        private int alpha;
        public TranspCtrl()
        {
            SetStyle(ControlStyles.SupportsTransparentBackColor, true);
            SetStyle(ControlStyles.Opaque, true);
            this.BackColor = Color.Transparent;
        }

        public int Opacity
        {
            get
            {
                if (m_opacity > 100)
                {
                    m_opacity = 100;
                }
                else if (m_opacity < 1)
                {
                    m_opacity = 1;
                }
                return this.m_opacity;
            }
            set
            {
                this.m_opacity = value;
                if (this.Parent != null)
                {
                    Parent.Invalidate(this.Bounds, true);
                }
            }
        }

        protected override CreateParams CreateParams
        {
            get
            {
                CreateParams cp = base.CreateParams;
                cp.ExStyle = cp.ExStyle | 0x20;
                return cp;
            }
        }

        protected override void OnPaint(PaintEventArgs e)
        {
            if (!DesignMode)
            {
                Graphics g = e.Graphics;
                Rectangle bounds = new Rectangle(0, 0, this.Width - 1, this.Height - 1);

                Color frmColor = this.Parent.BackColor;
                Brush bckColor = default(Brush);

                alpha = (m_opacity * 255) / 100;

                if (drag)
                {
                    Color dragBckColor = default(Color);

                    if (BackColor != Color.Transparent)
                    {
                        int Rb = BackColor.R * alpha / 255 + frmColor.R * (255 - alpha) / 255;
                        int Gb = BackColor.G * alpha / 255 + frmColor.G * (255 - alpha) / 255;
                        int Bb = BackColor.B * alpha / 255 + frmColor.B * (255 - alpha) / 255;
                        dragBckColor = Color.FromArgb(Rb, Gb, Bb);
                    }
                    else
                    {
                        dragBckColor = frmColor;
                    }

                    alpha = 255;
                    bckColor = new SolidBrush(Color.FromArgb(alpha, dragBckColor));
                }
                else
                {
                    bckColor = new SolidBrush(Color.FromArgb(alpha, this.BackColor));
                }

                if (this.BackColor != Color.Transparent | drag)
                {
                    g.FillRectangle(bckColor, bounds);
                }

                bckColor.Dispose();
                g.Dispose();
            }
            base.OnPaint(e);
        }

        protected override void OnBackColorChanged(EventArgs e)
        {
            if (this.Parent != null)
            {
                Parent.Invalidate(this.Bounds, true);
            }
            base.OnBackColorChanged(e);
        }

        protected override void OnParentBackColorChanged(EventArgs e)
        {
            this.Invalidate();
            base.OnParentBackColorChanged(e);
        }
    }

It's not a label but you can change onpaint code to draw a text.