Core Insights - Yale and Master Lock, part of Fortune Brands Innovations, have launched new smart lock solutions tailored for professional customers in multi-family residences and commercial buildings, expanding their product offerings to meet growing market demands [1][2][6] Group 1: Product Offerings - Yale is expanding its Yale Pro® 2 lineup with three new smart locks designed for multi-family housing, enhancing access control for residential units, gyms, and shared spaces [3][6] - Master Lock is introducing two new smart locks aimed at small and medium-sized commercial businesses, featuring advanced technology suitable for high-traffic environments [4][6] - The new locks are designed to integrate with existing smart building systems, utilizing open standards like Z-Wave Plus and Zigbee, providing scalable access management solutions [4][12] Group 2: Market Context - The launch of these products coincides with a significant increase in renter households, which have surged by over 1.2 million in the past two years, highlighting the demand for smart access solutions in multi-family rental properties [2][9] - The new smart locks are positioned to offer flexibility and reliability, catering to a wide range of requirements for property managers and commercial facility operators [2][4] Group 3: Key Features - The Yale Pro 2 line includes interconnected, mortise, and cylindrical lock options, ensuring compliance with diverse hardware and regional code requirements [3][7] - Master Lock's offerings include features such as tamper-proof designs, built-in alarms, and the ability to manage up to 500 unique access codes for enhanced security [12] - Both product lines emphasize ease of installation, remote access capabilities, and integration with smart building systems, enhancing operational efficiency for property managers [4][12]