I understand that I could implement a system wherein I make an effort to collect a water fee from each tenant on a monthly basis, but I am not interested in doing that, instead, I think there are companies that focus in on collecting for water consumption from each unit/tenant. 

@Jaysen Medhurst Not sure about New London but in Bridgeport CT the sewer charge is also based on water consumption. 

But typically, online documents are available for public consumption and use.

I’m assuming people are using more hot water and the building is wasting heat in the winter by now having each unit responsible for individual consumption and I’m hoping if I could connect the property owner with a contractor that could update the building they could earn more profits over time and pay me for the connection or reduce rent or share profits or whatever works.

It just has two line items for consumption and sales tax. 

It's a little laborious tracking each unit's water consumption and then billing the tenant a month later, so we're building it into the rent (bump the monthly rent up $50-$75) with a clause saying we can bill the tenant for overages on a quarterly basis. 

It can also lead to increase traffic and consumption of limited resources. 

The general public and local politicians have little regard for protecting this once prestine natural ressource: the storm sewer overflow issue is without a solution in sight (passing a law to allow the municipal waste water plant to dump raw residential and light industrial sewage into the lake 6 times a year would be political suicide in Europe, just saying) and the DNR recommends to limit fish consumption to once per month, just to keep your mercury intake down a bit..

However I wanted to get clarifications on 2 points. 1- The bill is under the owner's name however don't landlords pass the bill on to avoid over consumption from uncaring tenants?

Not comfortable sharing this tenant story for public consumption.