If you are thinking of renting, ask all of these questions to your strata corp! lol. They should be able to advise you appropriately for your building arrangements.
Generally, Lessor pays for all up front. Tenant reimburse the Lessor for percentage of the water bill, depending on what is negotiated when entering the lease.
If nothing is arranged the standard is:
Rates, Taxes & Water
The landlord is obliged to pay council rates and land tax charges. Charges for water supply are paid as agreed between the landlord and tenant.
In the absence of any contrary agreement, the tenant is responsible to pay for the cost of water usage exceeding 136 kilolitres per year.
However, before entering into the lease agreement, as a landlord you can include a condition in the lease agreement that a tenant pays for their own water consumption. You must give the water accounts to the tenant as they become due. If you do not provide these accounts and have had every opportunity to do so the tenant may only be held responsible for part of the account.
If the property is on a separate water meter you can ask that they pay the entire water consumption bill and the supply charge by including this as a condition on the lease agreement.
If the property is on a shared meter you can still ask that the tenant pays for water. It is recommended to calculate water charges as a percentage in these cases - eg water meter is shared between two rented properties, each tenant is charged 50% of all water usage.
Its tax deductable anyways so stop whinging

Sometimes, Landlords dont worry about making tenants pay for water costs. Depends.
When you receive your bill for your strata fees, it should itemise what each cost is for- including your water costs. From there you can calculate how much you are entitled to and the tenant can reimburse you for the amount negotiated or standardised.
Dont stress though your property manager works it all out for you. You wont need to worry about it. Just forward the bills to your PM, and they will pay all of your bills out of your monthly rental. Then you dont have to worry about all of the bills each month - you just worry about your mortgage, thats it.
Here is some more info for you:
http://www.sa.gov.au/subject/Housing%2C+property+and+land/Renting+and+letting/Information+for+private+rental+landlords/Being+a+private+rental+landlord/Bond%2C+rent+and+other+charges#Water_chargesOtherwise the Consumer affairs site has a lot of information you can read up on. The Government even holds information sessions on this type of stuff. You can enrol here:
http://www.sa.gov.au/subject/Housing,+property+and+land/Renting+and+letting/Information+for+private+rental+landlords/Tenancy+forms+and+fact+sheets/Residential+tenancy+information+sessions/The+information+sessions+available#Managing_your_rental_property