In general, you cannot delete properties in Rentables because they are part of your historic accounting record. You can, however, mark them as inactive.
Mark as Inactive
Marking a property as Inactive is analogous to archiving the property. The property will no longer show up in lists or reports and Auto Charge will be disable. You can always re-activate the property in the future if you need to.
Edit the property and find the Management Agreement section. Expand the section and select Inactive. Be sure to click Update Property to save your changes.
Where did my Inactive Property Go
Under Properties you will find Inactive Properties. This is similar to the Properties Overview page but shows all you inactive properties.