Nowadays, water supply systems are inalienable part of apartment houses, because water is one of resources without which humanity could not exist. These two issues – water consumption risks and water losses are closely connected. The aim of the paper is to evaluate water consumption recording risks in apartment houses and develop risk management methodology for water supply system with a purpose to reduce risk impact on water consumption recording. Through this water consumption recording will become more reliable and stable. Research was done using qualitative research methods. The research findings can be used by apartment house managers to improve quality and reliability of their public utility services, at the same time decreasing or excluding risks which can influence water consumption recording. This report might be used as guidelines for apartment house managers to develop risk management methodology of water supply system in apartment houses.