Overview
pubCenter defines properties as a way of organizing the places where you publish ads--essentially, your web sites. A property is a web site; a domain or sub-domain that has a distinct URL needs its own property and requires separate approval. If your approved property is contoso.com, you do not need to submit contoso.com/sports; however, you will need to submit sports.contoso.com as a separate property for approval. Your property will receive ads even while they are pending approval.
Each site, or part of a site, where you publish ads is something you can set aside as a distinct property. For example, if you run a news site with distinct sections for sports, weather, lifestyle and other kinds of news, even if they're all under the same root domain, you might want to enter each of them as a separate property so you can track the performance of different audience demographics separately. Ultimately, how you organize your sites into properties is up to you.
Ensure your property gets approved
The Microsoft pubCenter Editorial Policy is a key component to providing a positive experience for both publishers and advertisers. Properties displaying Microsoft ads must adhere to these policies for site content, site behavior and ad block.