I stayed one nigt in Jeanette and Peter's private room whch is very well located:
less than 10 mn walk from the train station, few steps to the lake. I was attending a concert at Montreux Jazz and running a trail start the next day, I could do evrything by foot. Despite being very close to main attractions, the location is very quiet. Jeanette and Peter have been very welcoming. Their apparment is plesant, vry clean and so is the room which has its own coffee/tea machine and private balcony.
I would definitely recommend the place