Pro: It's a cult hit with a vocal and supportive audience.
Con: We love the Greendale Human Beings just as much as the next 'Community' fan, but have you seen the ratings? The lively audience -- hey Tumblr! -- isn't that large. In fact, it's shrinking. The first few episodes of Season 3 have barely been seen by 4 million viewers, down from 5 million-ish at this time last year. This show will not add more viewers; it's peaked.
Chances of renewal: Unlikely.