Irene (and also her mother) is a welcoming and helpfull host and simply nice and friendly people. They'll explain everything about appartments and the city. There are even some "where to go" places in Bologna (which was really great) and Irene provides information about interesting cultural activities in the city.
The flat is near the center, but not near to noisy student parties )) The house is just what you need to experiencean italian way of life from inside, so I'll strongly recommend the place if you are going to Bologna.