The Painters House is in an old apartment block but looks to be renovated recently. It was spacious enough for us (3 adults and 2 kids), had everything we needed, and is located close to the major tourist attractions, a supermarket, and a lot of cafes and restaurants. The street it is located on felt safe for us (our kids are 8 and 6).
I would definitely recommend the place to anyone visiting Florence.
If you are planning to get there in a car, make sure that the car is small enough to turn into some of the narrow lanes around there.