IANAL and would recommend talking to one, but it would appear that as long as he doesn't take it from his home/place of business you can lend it to him. I would assume that his rental property constitutes a place of business.
§ 6115. Loans on, or lending or giving firearms prohibited.
Quote:
(a) Offense defined.--No person shall make any loan secured
by mortgage, deposit or pledge of a firearm, nor, except as
provided in subsection (b), shall any person lend or give a
firearm to another or otherwise deliver a firearm contrary to
the provisions of this subchapter.
(3) Nothing in this section shall be construed to
prohibit the loaning or giving of a firearm to another in
one's dwelling or place of business if the firearm is
retained within the dwelling or place of business.
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