Elevator without counterweight, in which elevator there is a compensating system separating the roping portion of the hoisting ropes above the elevator car from the roping portion of the hoisting ropes below the elevator car and in which the rope tension is arranged by means of the compensating system to be greater in the portion of roping above the elevator car than in the portion of roping below the elevator car, installed by raising the travel height of the elevator at least once. When raising the travel height, the extension of the hoisting ropes is fed in via the compensating system or via the rope fastening in the compensating system.