I stayed here in a studio for 3 persons and in general my stay was good though you have to remember that it's not a luxury hotel.
What I liked about it:
The location is quite good for exploring the old town of Budva and eating in local restaurants. The beach is close as well, (but don't care, it's bad and I recommend you go to the nearest bus stop (3 min on foot) and take a bus to Sveti Stefan where the swimming is much much better!) In the room there's a kitchen corner with a fridge, a cooker, a kettle, cutlery, etc. In the common area there's an iron and a washing machine. What I liked best was the spacious private balcony and the abundance of towels! The owner is very friendly and speaks good English. As for the price - it's very reasonable.
The bad thing is the quality of the pillows. The worst pillows I've ever had!!! (we didn't use them at all, replacing them with little cushions or a blanket). Another thing is that the room is too big for the air conditioner which can't cope with such space if the outside temperature is very high. Finally, at night you can hear bad loud music from beach bars and discos (they are not near, but...) Honestly, I don't know if there's a place in Budva where you can't hear that horrible noise so it isn't the problem of the property but of the whole town!
All in all, this place provides simple but practical accommodation at a very fair price.