I've lived in buildings with this, and others (houses) without, and I much prefer the former. There's nothing I need to maintain, and the 'big' version seems to be more reliable than the single-house-sized heating equipment. The one time I remember the hot water being repaired, the janitor stuck up a note explaining that due to some sort of redundancy we'd still have hot water, but it would be less hot than it was supposed to be.