Well KW, What you're looking at is basically three things, maintenance, cost, and durability, not necessarily in that order. Hardiboard and Vinyl are both relatively low maintenance. They both look great for a long time. However, the hardiboard will require periodic painting. It holds paint longer than wood, but will still need some attention. Vinyl, on the other hand, will just need rinsed off with a garden hose when it's dirty. The Hardiboard is available in more textures than vinyl. You can have a stucco look, or wood look. Hardiboard is definately fire resistent. Both products have insulation backer that can be purchased, and both products are cheaper than real wood. Since I assume the residents won't be doing the install, installation difficulty isn't a direct consideration, but hardiboard is more difficult to install, therefore installation costs will be a bit higher than for vinyl. All of the old siding will have to be removed for the hardiboard, while the installer may be able to leave it in place for vinyl. I will say this about vinyl though, there are several grades of vinyl and you would do good to get the highest quality siding that can be afforded. This is for durability. Cheap vinyl will break easily. Get some good thick stuff. Vinyl can't be painted either, whereas the hardiboard can. I hope that helps!