Where exactly are you planning to stay? Toronto downtown or are you ok staying in Mississauga.
When I came we rented a furnished suite with all appliances and kitchen stuff we pod $90 a day but it was lot more convenient then a hotel. Also it's in a nice secure building. I always make the bookings for my colleagues visiting from India. I usually look for these places on kijiji.ca
Here is a link:
http://www.kijiji.ca/b-short-term-rental/gta-greater-toronto-area/c42l1700272
Also, you can negotiate with them for a 1 bedroom living dining kitchen it could be anywhere from $80 - $95 a day. You can also get a weekly rate like $600/ week.
It also depends on the season, it's winter right now so it shouldn't be higher. These rates our for Mississauga. Mississauga is very well connected to downtown and other places, look for something near square one.
I am booking something for my boss who is traveling end of this month. If I find anything else I will post here.
Thanks a lot for your kind reply!