Our family of 4 (parents, two teenagers) stayed at Villa Evelyn Terrazzo for 4 nights in August. The rental agency, Happy Holiday Homes, was easy to deal with and sent several emails prior to arrival detailing the key pick up process and giving tourist info about the area. The rental office is about a 10 minute walk from the apartment. There is really no parking around the office; in retrospect we should have parked at the Villa and walked to the office for the key.
The building is an old Villa built in the 1800's with beautiful grounds and right on the lake. The apartment itself is very modern and comfortable, it looks as if it was recently renovated (2 bare bulbs still hang on the wall, guess someone forgot the sconces!) Modern appliances and bathrooms, with a clothes washer which was nice since we were at the end of our trip. The terrace is a big plus, with breathtaking views of the lake. The sun shines on the terrace in the morning; there is an awning which is a bit old and you have to push it open with a broom handle, but it helps. Kids said Wifi worked fine; we did not use the TV so can't comment on that. We had to ask the office what to do with garbage; apparently there is no individual building garbage pick up, you have to walk up the street a bit to find the community garbage/recycling bins.
Location is perfect, 5 minute walk to ferry, 10 to town square. We had a car, and there are a few spots designated for the villa, but during the day I think local people park in the Villa lot and walk to town, so this was a minor issue on one or two occasions. Also, the building is directly on the main road; you do hear traffic (especially motorcycles) throughout the night, but I wore earplugs and it wasn't a problem.
Overall we were very happy with our stay; it is a perfect location with gorgeous views and right on the lake. Menaggio is a cute town and the ferries go across the lake to Bellagio and Varenna. Also if you do not have a car the local buses are very easy to ride. Taxis are hard to come by and expensive.
If you have a car, try to get out of town to eat dinner. We had two excellent dinners. one at Al Veluu in Tremezzo (make reservations), and the other at La Vecchia Magnolia in the hills above Menaggio (casual dining). Both have beautiful views and excellent food. Unfortunately, the two nights we ate in town we were disappointed.