From the Hosting Perspective (Score 1)

I know my small hosting company has had issues with customers letting their domains lapse after repeated notices that they need to renew. Once the domain expires, it is very difficult to have companies like eNom allow the domain to be renewed again until the holding period is over. The problem is that end users are not educated enough about how registrars and DNS functions. Our single most common support question relates to DNS issues. The moral of the story is: don't let your domain expire! If you enjoy having a functioning web site and a domain name, be proactive and manage this asset.