How hot is the rental market for Square One condos? Boiling hot! Even in the month of December when you would expect things to cool down with Christmas and the holiday season well on its way, the numbers tell a different story.

In December, there were 14 One Bedroom + One bath condos that rented out. Keep in mind that we are ignoring the one bedroom condos with dens that Leased out, which if included would bring the count higher. The average lease price for the one bedroom + one bath suites was $1,464. The prices ranged from $1,375 to $1,525. The lowest price suite that leased for $1,375 was from 220 Burnhamthorpe Rd West. The suite that leased for the highest price of $1,525 was also found in 220 Burnhamthorpe Rd West.

How fast are these suites renting for? Well, don’t wait too long to make a decision as the average days on market for these one bedroom + one bath suites in the month of December was 13 days. If you love to negotiate on price, I am afraid to tell you there is hardly any wiggle room as most suites are getting full asking price of more. In fact, the numbers speak for themselves. In the month of December, the average leased price per listing price was 100%.

How large can you expect these Mississauga condos to be? The square footage of the suites leased in December ranged from 500 – 899 square feet.

What does the future entail for those seeking condos for rent in Mississauga? Though there is no crystal ball we can turn to for guidance, it is always a good rule to calculate months of inventory. As of January 28th 2016 while we are carrying out these calculations, there are 13 one bedroom + one bath suites available for rent in the City Centre region, otherwise known as the home for Square One condos. Looking back, we know that 14 condos rented in December, 25 rented in November and 22 rented in October. This gives an average monthly lease rate of 20 condos per month. If the demand keeps up, the existing inventory of condos should be leased within 19 days.

It is clearly a Landlord’s market and our experience in the field supports this. It is not uncommon to face multiple offers these days for condominiums for rent in Mississauga. If you are serious, be ready to make a decision quickly and to pay full price otherwise your options will dwindle fast.

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The Relationship between Inventory and Prices of Mississauga Condos for Sale