Square One Condo Rental Guide (2026)

Renting a condominium near Square One Shopping Centre puts you in the heart of Downtown Mississauga (City Centre)—Peel Region's most walkable urban hub for dining, entertainment, corporate offices, and rapid transit.

However, two condo units on the same street in City Centre can have completely different monthly utility bills, elevator wait times, and landlord requirements. This 2026 Square One Condo Rental Guide breaks down neighborhood pockets, true monthly costs, building rules, and the exact documents you need to secure a lease in Ontario.

1. Square One Condo Rental Price Breakdown & Unit Types

Monthly rent around Square One varies based on building age, square footage, floor height, and whether parking or utilities are included:

Studio & Junior 1-Bedroom Condos (400–500 sq. ft.): Popular in newer developments like M City and Exchange District. Ideal for single professionals and Sheridan College students looking for modern finishes and lower base rent.
1-Bedroom & 1-Bedroom + Den Condos (550–700 sq. ft.): The most requested layout in Downtown Mississauga. A separate den with a sliding door or alcove is highly valued by remote workers commuting occasionally into Downtown Toronto.
2-Bedroom & 2-Bedroom + Den Condos (750–1,000+ sq. ft.): Found across family-friendly towers along Webb Drive, Rathburn Road West, Duke of York Boulevard, and Confederation Parkway, offering two full bathrooms and typically one underground parking space.

Want to see real-time pricing today? Browse Live Square One & Mississauga Condos for Rent on the MLS®.

2. Best Condo Pockets Around Square One (Where to Live)

Downtown Mississauga is divided into four distinct micro-neighborhoods, each offering a different lifestyle and commute:

West City Centre (Burnhamthorpe Rd W & Confederation Pkwy): Anchored by the master-planned M City community (M1, M2, and M3 Condos) and Parkside Village (Amacon). Best for resort-style amenities, steps to Zonta Meadows Park, and a short walk to Sheridan College (Hazel McCallion Campus).
East & South Square One (Hurontario St & Absolute Ave): Home to the world-famous Absolute World (Marilyn Monroe Towers). Offers immediate on-ramp access to Highway 403, peaceful walks at Kariya Park, and direct connectivity to the Hazel McCallion (Hurontario) LRT corridor.
The Civic Core (Duke of York Blvd, Princess Royal Dr & Living Arts Dr): Steps from Celebration Square, the Mississauga Central Library, Living Arts Centre, YMCA, and the luxury Exchange District Condos right across from Square One.
Webb Drive, Enfield Place & Kaneff Crescent: Known for slightly older, more spacious condominium towers that frequently offer larger floor plans (700–1,100 sq. ft.) and more all-inclusive utility structures than brand-new glass towers.

Commuting & Transit Access: Check the exact walking distance to the City Centre Transit Terminal (the central hub for MiWay Express and GO Transit buses along Highway 403) or the quick 5-minute connection south to Cooksville GO Station for Milton Line train service directly to Toronto's Union Station.

3. Calculate the True Monthly Cost (Utilities, Hydro & Parking)

Never compare two Square One rentals by base rent alone. Depending on when a Peel Condominium Corporation was registered, monthly extras can add $150 to $350+ to your budget:

Which utilities are included? Established towers (such as several buildings along Webb Drive, Rathburn Rd W, or Kariya Drive) often include heat and water—and occasionally hydro (electricity)—in the landlord's maintenance fee. Newer towers (M1/M2/M3 Condos, Exchange District,Newest Parkside Village phases) almost always sub-meter hydro, water, and thermal (heating/cooling) separately via providers like Provident, Wyse, or Enercare, though many include bulk high-speed fiber internet.
Underground parking & storage locker: Many newer Studio and 1-Bedroom units around Square One were built without a dedicated parking spot. If you drive, confirm whether parking is included in the lease or if you will need to rent a spot from another resident in the building (typically $120 to $180/month).
Mandatory tenant insurance: Ontario condo leases require proof of active Tenant Liability and Contents Insurance (usually $20–$35/month) before the landlord hands over the keys and fobs.
Elevator booking deposits: Most City Centre property management offices require a refundable security deposit ($200–$500 by certified cheque or money order) to reserve the service elevator for your move-in day.

4. What to Check During Your Condo Viewing

A well-staged suite does not tell you everything about daily life in a high-rise tower. When touring buildings near Square One, evaluate:

Elevator-to-suite ratio: In 40- to 80-storey towers, ask if all elevators are currently operational and observe lobby traffic during peak hours (8:00 AM–9:00 AM and 5:00 PM–6:30 PM).
Pet restrictions and condo bylaws: Even if an individual landlord is pet-friendly, the condominium corporation's declaration and rules govern maximum pet weight (often 25–40 lbs in certain buildings) and pet limits.
Visitor parking and parcel management: Verify whether the 24-hour concierge accepts Amazon/grocery deliveries and whether overnight visitor parking permits are available for guests.

5. How to Prepare a Winning Ontario Rental Application

Well-priced condos near Square One often receive multiple offers within days. Landlords and listing agents look for a clean, verifiable Triple-A tenant package containing:

Government-Issued Photo ID (Driver's Licence, Passport, or PR Card).
Proof of Income: Up-to-date employment letter stating job title, start date, and annual salary, accompanied by your 2–3 most recent pay stubs (or bank statements/guarantor documentation for international students and newcomers to Canada).
Full Credit Report: Complete Equifax or TransUnion credit report showing your credit score, payment history, and account standing.
Rental Application & References: Completed Ontario Rental Application (OREA Form 410) with contact details for previous landlords.

Know Your Ontario Tenant Rights: All residential condo leases in Mississauga must use the mandatory Ontario Standard Form of Lease alongside the Agreement to Lease (OREA Form 400). Under Ontario's Residential Tenancies Act (RTA), a landlord can legally require a rent deposit equal to first and last month's rent plus a refundable key/fob deposit limited to actual replacement cost.

6. Frequently Asked Questions About Square One Condo Rentals

Are utilities included in Square One condo rentals?

It depends on the building's age. Older condos around Square One typically include water and heating in the base rent, while newer towers built after 2018 usually require the tenant to pay separately for hydro, water, and thermal heating/cooling. Always verify the exact inclusions on the MLS® listing sheet before applying.

Do I pay realtor fees as a tenant in Mississauga?

No. In Ontario, when you work with a licensed REALTOR® to find and lease an MLS®-listed condo in Mississauga, the commission is paid by the landlord—meaning professional tenant representation, private showings, and lease paperwork review come at zero cost to the tenant.

Should I rent or buy a condo near Square One?

If you plan to stay in Mississauga for fewer than 2–3 years or want to test a specific City Centre building first, renting offers flexibility. If you are comparing whether to rent or purchase your first condo, read our Square One First-Time Condo Buyer Guide and our complete Buying a Condo in Mississauga Guide.

7. Browse Square One Condos for Rent & Get Expert Help

Rental inventory and monthly pricing in Downtown Mississauga change daily. Whether you are a tenant looking to secure a verified condo near Square One or a landlord looking to lease your unit to a qualified tenant, work with Fernando Borges Mora, REALTOR® with eXp Realty (service in English and Spanish):

Square One Condo Rental Guide (2026)Square One Condo Rental Guide (2026)