Apple's home key in the Wallet app unlocking the Schlage Encode Plus. 

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Schlage's latest smart lock is the Encode Plus Smart WiFi Deadbolt. It doesn't look all that different from Schlage's similar smart lock products, with a keypad on the outside portion of the lock. The keypad allows you or guests to enter a code to unlock your door. 

What makes the Encode Plus different is that it is one of the first smart locks to support Apple's home key platform. Once the lock is installed, you'll be able to add a digital key to the Apple Wallet app on your iPhone or Apple Watch. You can also share keys with friends, family members, or guests. 

To unlock your door, you only need to tap your iPhone or Apple Watch to the keypad of the Encode Plus. You don't have to unlock your phone or watch, similar to how Apple's Express Transit Cards work. Additionally, if you're iPhone's battery runs out of power, you can still unlock your door for up to 5 hours after it powers off. 

For households with Android and iPhone owners, you can still use the Encode Plus using standard unlock codes or the Schlage Home app. It also integrates with Amazon Alexa and Google Assistant. 

All of this technology in a deadbolt comes at a cost -- the Encode Plus will launch later this spring at$299. It'll come in a variety of designs and finishes so you can pick the style that fits your home.