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A "lockout" is a unit (generally 2BR or larger) whose physical layout allows for complete separation into two independent units, with a locked door between the two units. The "locked off" studio portion is almost always quite small, which may be why you may see advisories to avoid the small studio portion of a "lockoff". I can't speak for RedWeek regarding how a "lockoff" might be listed. For starters, on any exchange site, it always depends on WHICH part of the lockoff the owner actually deposits. Sometimes, to improve rental value or deposit value, an owner will actually CHOOSE to occupy the much smaller studio portion, in order to get either more money (for a rental) or more exchange value (if depositing for exchange) out of the larger portion of the "lockoff". My guess is that a RedWeek listing would not ever actually identify a lockoff, but would instead simply accurately identify the size / portion of the lockoff deposited for exchange (studio, 1 BR, 2 BR, etc.). It shouldn't matter much to a potential exchanger whether it's a "lockoff", unless of course the potential exchanger is concerned about just how small the "studio" portion might be (and some "studios" can be very small indeed). I hope this helps you somewhat....