A method of rope condition monitoring of a rope monitoring device of an elevator, which rope monitoring device applies an independent adjustable constant current supply for each rope, in which method at least the following steps are performed: starting a learning mode by a pushing on a button in which - a non-volatile memory of the microcontroller, containing the number of connected ropes, the control value of each current source and the voltage measurement result for each rope is erased, - an electrical resistance between a first point (R') and a second point (R") of elevator suspension and/or transmission ropes is measured first time by starting an adjustment from a monitoring channel of a current source in such a way that a current flowing through the measured rope increases and the voltage is measured at the same time and when the voltage across the rope is over a limit value, the current adjustment is stopped, and present current value and measured voltage value are stored in the non-volatile memory, wherein the number of ropes, also stored in the non-volatile memory, is increased by one, if there is a rope connected to that channel, wherein these steps are repeated for each of the channels, - a threshold value is determined based on the measurement, which threshold value is stored then in the non-volatile memory, and - when the learning sequence is completed, said rope monitoring device continues with an operation in the monitoring mode in which - the elevator is used for transporting passengers and/or goods, and thereafter - electrical resistance between the first point (R') and the second point (R") of said suspension and/or transmission ropes is measured a second time, and thereafter - results of said second time measurement are compared with said threshold value, and if said second time measurement meets said threshold value, predetermined actions are carried out. starting a learning mode by a pushing on a button in which - a non-volatile memory of the microcontroller, containing the number of connected ropes, the control value of each current source and the voltage measurement result for each rope is erased, - an electrical resistance between a first point (R') and a second point (R") of elevator suspension and/or transmission ropes is measured first time by starting an adjustment from a monitoring channel of a current source in such a way that a current flowing through the measured rope increases and the voltage is measured at the same time and when the voltage across the rope is over a limit value, the current adjustment is stopped, and present current value and measured voltage value are stored in the non-volatile memory, wherein the number of ropes, also stored in the non-volatile memory, is increased by one, if there is a rope connected to that channel, wherein these steps are repeated for each of the channels, - a threshold value is determined based on the measurement, which threshold value is stored then in the non-volatile memory, and - when the learning sequence is completed, said rope monitoring device continues with an operation in the monitoring mode in which - the elevator is used for transporting passengers and/or goods, and thereafter - electrical resistance between the first point (R') and the second point (R") of said suspension and/or transmission ropes is measured a second time, and thereafter - results of said second time measurement are compared with said threshold value, and if said second time measurement meets said threshold value, predetermined actions are carried out. - a non-volatile memory of the microcontroller, containing the number of connected ropes, the control value of each current source and the voltage measurement result for each rope is erased, - an electrical resistance between a first point (R') and a second point (R") of elevator suspension and/or transmission ropes is measured first time by starting an adjustment from a monitoring channel of a current source in such a way that a current flowing through the measured rope increases and the voltage is measured at the same time and when the voltage across the rope is over a limit value, the current adjustment is stopped, and present current value and measured voltage value are stored in the non-volatile memory, wherein the number of ropes, also stored in the non-volatile memory, is increased by one, if there is a rope connected to that channel, wherein these steps are repeated for each of the channels, - a threshold value is determined based on the measurement, which threshold value is stored then in the non-volatile memory, and - when the learning sequence is completed, said rope monitoring device continues with an operation in the monitoring mode in which - the elevator is used for transporting passengers and/or goods, and thereafter - electrical resistance between the first point (R') and the second point (R") of said suspension and/or transmission ropes is measured a second time, and thereafter - results of said second time measurement are compared with said threshold value, and if said second time measurement meets said threshold value, predetermined actions are carried out.