Paola's place is very well located, especially during Montreux Jazz, while we were there. Using public transport you'll be at the city center in 10-15 minutes, but it's a beautifull walk as well, lasting about 30 minutes right along the lakeside. There are 2 day beaches at walking distance (one to the right, about 5 minutes walk, and one to the left, about 15 minutes walk).
The place itself has a great view, but is not the newest of places, with a lot of older furniture and a bathroom that's straight from the '80's. It is all very clean however, and very much functional. To be honest, this is more or less the standard for AirBnB's in Switzerland, so not at all a deal-breaker.
Paola was very welcoming and clear in her communications, with responses to questions coming very swiftly. Check-in/check-out was flexible as she leaves right besides the location.