I am the owner of a property. I am currently renting out that property to my close relative. I trust this family member to use my money to pay a contractor to make small fixes to the property. For this property I'd like to have a dedicated checking account into which goes all income and of out which go all expenses for just this property for tax accounting purposes. It would make the accounting more easy for me to track if I could make the account a joint account with my relative.
Are there any tax implications to having my renter officially have access to this join account for ordering a contractor to make small fixes?