I noticed the other day that most of the pipes in my apartment building have no meter. I had to ask but apparently, there are 2 options. One, you pay a set amount every month, probably that $1,255 that Birdman mentioned. Or two, you get a meter and pay what you use. For us, the water is normally less than that set amount, so I'm ok having the meter.
Apartment across from me moved out the other week, but I think he's letting family use his apartment sometimes. So the water is still on, but normally no one is home. Funny sound, sounded like someone was hosing down the stairs...I don't know what happened but there was a lot of water coming out from under his door, going down all four floors...neighbor from below us calling me in a panic. Took 2 minutes to get downstairs (nice shower...hope the water was clean) and turn off his valve. No meter, so he got to waste hundreds of gallons for free...spent 20 minutes pushing water out of the stairs with a squeegee. Thankgfully construction here is such that no water entered our apartment, and if it did, most of our stuff woudl be fine. In the US, with a water leak like that, you would be looking at tearing out the drywall in every room, throwing out all your furniture, etc.
Manager for the apartment still didn't show up to look around, neither did apartment owner...wonder if he'll have mold when he returns.